To receive daily emails from Breaking Christian News to your inbox CLICK HERE


SHARE THIS ARTICLE Printer friendly version of this page

Passed! The Largest Tax Overhaul for America Since the Regan Administration

Abigail Robertson : Dec 20, 2017  CBN News

"This is profound change, and this is change that's going to put our country on the right path." -House Speaker Paul Ryan

(Washington, DC)—[CBN News] Republicans are calling this a moment decades in the making—passing the largest tax overhaul since the Reagan administration. (Screengrab via CBN News)

"This is profound change, and this is change that's going to put our country on the right path," House Speaker Paul Ryan, R-WI, declared on Tuesday.

[UPDATE via Fox News: The House gave the final stamp of approval Wednesday to a sweeping tax reform package, sending the deal to Trump's desk to be signed after a 224-201 vote]

"Starting next year in February, every American should check their check, because they're going to get more money to bring home," House Majority Leader Kevin McCarthy, R-CA, told CBN News.

The new tax plan slashes the corporate tax rate from 35% to 21%, which McCarthy says will lead to economic and job growth. It also doubles the standard deduction to $12,000 for single filers and $24,000 for married couples.

"If you take an average family of four making $73,000, they're going to save $2000 on their taxes," McCarthy said. "It lets you keep more of your money. So many Americans who live paycheck-to-paycheck or struggle to be able to have that vacation or save for your kids' college, this is going to make a difference.

And for many, it simplifies the tax filing process down to a postcard.

"The uniqueness is instead of spending weeks and paying someone to do your taxes, you do it in minutes, that's the difference," McCarthy added.

Democratic opponents call the bill a "tax scam" and argue it is just a cut for the wealthy and will raise taxes for the middle class.

But McCarthy says that's just misinformation, and urges everyone to read the bill.

"Just read the bill, don't judge anybody else, read the bill and at the end of the day, you're going to be able to pay less because the rates go down," the California congressman said. "You double the standard deduction so already off the bat, you get twice as much tax free to start out with."

Once the bill passes the house a second time, it will be on its way to the president's desk.

Even after the second House tax vote today, the work in Washington will not be over. Lawmakers still face a budget deadline by the end of this week; no agreement and the government will shut down.







SHARE THIS ARTICLE Printer friendly version of this page

To receive daily emails from Breaking Christian News to your inbox CLICK HERE

Other Recent Articles from Breaking Christian News

'Glory to God!': Sydney McLaughlin Wins Gold, Sets World Record in 400m Hurdles

Refreshing: American Wrestler Praises USA, Thanks God after Winning Gold

Watch: After Winning Olympic Gold, Fiji's Men's Rugby Team Breaks into Song Praising the Blood of the Lamb

Missouri Governor Pardons Mark and Patricia McCloskey, Who Famously Defended Their Home from Rioters

CNN Plunged into Conflict of Interest over Cuomo Sexual Harassment Probe

UK Government Signs Million-Dollar Foreign Contracts for COVID Passports; Could Be Imposed for Up to 2 Years

Dr. Mercola Forced to Remove Important Covid Treatment Articles from His Website by Pro-Vax Thugs

The Parallels of Early 1930s Germany and Current America Can No Longer Be Ignored

Anne Graham Lotz's Son Is Released from the Hospital

President Trump Amends Big Tech Lawsuit as 65,000 Americans Submit Censorship Stories

10 Indisputable Facts That Argue For An Election Audit

Former HHS Civil Rights Director: Biden's Vaccine Or COVID Test Mandate Violates Americans With Disabilities Act

American Medical Association Pushes to Remove Sex from Birth Certificates

Parents Urged to Protest Big Pharma's 'Disgusting Ad' that Claims Gender 'Randomly Assigned at Birth'

Candace Owens Calls Out Trans 'Muppet Babies' as 'Perverted', While Movieguide Warns of LGBT Agenda in 'Jungle Cruise'

Simone Biles Sticks Landing in Balance Beam, Wins Olympic Bronze

PRAY: 'AGT' Star Nightbirde Leaves Competition As Health Takes 'Turn for the Worse'

Researcher Says He's Found the True Location of the Jewish Temple, Hiding in Plain Sight

Prayer Alert: Supreme Court Reveals a 3-3-3 Divide as Major Abortion Case Hangs in the Balance

Canada's Government Proposes 'Digital Safety Commissioner' to Shut Down Websites Deemed 'Harmful'



Search the Articles Archives

Keyword:  
Author:  
Words Posted On:  
Day Month Year



BCN Plus

An BCN Paid Advertisement
An BCN Paid Advertisement
An BCN Paid Advertisement
An BCN Paid Advertisement
Follow BCN on Twitter
Are You Praying for Our Government Leaders?
BCN Staff

Steve Shultz
Steve Shultz, Managing Editor
Founder and Owner


Aimee Herd
Aimee Herd, Editor


BCN Plus
Are You Praying for President Trump?
 
 

All articles on this site and emails from BCN are copyrighted property of Breaking Christian News. Permission is given to link to, or share a BCN story if proper attribution is given to both the original writer and summarizer of the story. Breaking Christian News 2005-2019. All Rights Reserved.


Breaking Christian News is a division of Elijah List Publications, Inc. All Rights Reserved


Disclaimer: Articles and links, as well as the source articles linked to; do not necessarily reflect the opinion of Breaking Christian News.

editor@breakingchristiannews.com