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Old 12-13-2017, 11:51 AM   #261
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I think the public show trial was supposed to be today. Maybe they decided that was a bit foolhardy and just got it done. Now all I need to know is whether I have to write checks before December 31st.

ETA: No cable, so no C-Span. Will be looking for the blow by blow from you folks when it's done.
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Old 12-13-2017, 12:00 PM   #262
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Turmp is giving a speech now saying he will sign a 21% corporate tax rate bill.

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Old 12-13-2017, 12:09 PM   #263
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Fox Business news is confirming they've agreed on a 37% top individual tax rate.
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Old 12-13-2017, 12:16 PM   #264
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I've noticed the media seldom mentions the lowest tax rate which the House bill raises to 12% but the Senate bill leaves at 10%.
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Old 12-13-2017, 12:21 PM   #265
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Fox Business news is confirming they've agreed on a 37% top individual tax rate.
What was it before? Have not had to file a return for years.
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Old 12-13-2017, 12:25 PM   #266
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What was it before? Have not had to file a return for years.
I believe it is 39.6% currently.
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Old 12-13-2017, 12:39 PM   #267
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I've noticed the media seldom mentions the lowest tax rate which the House bill raises to 12% but the Senate bill leaves at 10%.
Yes, it will be interesting to see if they have 4 brackets, 7 brackets, or something different.
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Old 12-13-2017, 12:46 PM   #268
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Hard to tell what's there: Republicans in House and Senate strike a deal on tax bill - CNNPolitics

Appears:
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  • mortgage interest deduction tops out at 750k
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Old 12-13-2017, 12:46 PM   #269
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There were several news articles about this yesterday. But none of them said anything about the extra over age 65 deduction which the House bill eliminates and the Senate bill keeps. For some reason the media is not interested in that.

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I've noticed the media seldom mentions the lowest tax rate which the House bill raises to 12% but the Senate bill leaves at 10%.


Just now I tried to call Senator John Cornyn's DC office but their main DC number is not connecting to a live person. So I called their Dallas office and was able to speak with an aide to ask him about reconciliation on these two House/Senate differences. All he was able to tell me was Senator Cornyn's has not issued a public statement on that. This might explain why the media is also silent. So why the secrecy ??


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Old 12-13-2017, 01:38 PM   #270
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The purpose of the thread was to discuss the inner workings of the Senate and House tax bills. They have each been replaced with a final, reconciled tax bill. Once it is released and details available, we will need and have a new tax thread.
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