Week Ahead: Trump Might Get His Tax Bill, But That Might Be It Until After 2018
Republicans in Congress are likely to pass their tax bill this week, raising questions about House Speaker Paul Ryan's future and what, if anything, will happen next year
Despite some last-minute challenges, Republicans appear to have the votes to give President Trump his first legislative victory.
Final passage of the bill that will reshape the tax system and touch nearly every American is expected early this week, possibly Tuesday or Wednesday.
It will be Tump's first significant legislative accomplishment, not a bad Christmas gift for a president, who often boasts of lesser successes.
So what's in the tax bill?
Poll after poll after poll after poll have found the tax bill unpopular with most Americans. So what wound up in the bill — and what didn't?
Here are some of the highlights:
- The corporate tax rate is lowered from 35 to 21 percent;
- Business owners who pay their taxes on the individual side of the tax code, including many small businesses, would see their tax rates limited to just under 30 percent;
- The standard deduction would nearly double (though not everyone would benefit, especially those with multiple children);
- Deducting interest on
