U.S. Senate News

The House and Senate have now each passed different versions of Tax Cuts and Jobs Act. Both bills are a big improvement to America’s out-of-date tax code and could boost the economy by almost 3 percent, leading to more jobs and higher wages for working Americans. Both bills cut taxes for individuals and businesses, largely…

Two years ago, Christmas came early for Kofi Minor and her daughter, Elisa Thomas. “She was struggling in school,” says Minor, a resident of the District of Columbia. “When you have a child that is 5 or 6, it is imperative that a school be able to balance academics and nurturing.” She says she had…

Senate Democrats who fret over the distributional effects of tax cuts should thank their GOP colleagues for giving them the chance this week to vote on repealing one of the most regressive taxes: the Obamacare tax on the uninsured. This tax disproportionately falls on those with incomes less than $50,000, while exempting many households earning…

The Senate version of the Tax Cuts and Jobs Act has successfully passed both the Finance and Budget committees and is now on the Senate floor. As it currently stands, the Senate bill is a big improvement to America’s out-of-date tax code and could boost the economy by almost 3 percent. There is a lot…

After nearly 11 months of careening from one disappointment to another, Congress is on the verge of a major breakthrough on tax reform. I won’t begrudge you if you’re pessimistic, but past performance does not always indicate future results. And when it comes to the aptly named Tax Cuts and Jobs Act, there is reason…

The House has now passed its version of the Tax Cuts and Jobs Act. The Senate is still working on the final details of its reform package. The Senate plan improves on the House bill in many places and misses important opportunities elsewhere. Here are the differences you need to know about:

The House version of the Tax Cuts and Jobs Act is a long-awaited step toward updating America’s tax code. If you’re a middle-class taxpayer, the bill has a lot to like. Tax rates are lowered, the standard deduction is doubled, the child tax credit is increased to $1,600, and a parent and non-child dependent credit…

Two thousand seventy-five dollars. That’s every American’s personal share of the fiscal year 2017 budget deficit. The total deficit? Six hundred sixty-six billion dollars. It’s the American people who are on the hook for Congress’ incessant spending appetite. The good news, though, is that Congress has a chance to address deficits and overspending as we…

Last week, the House GOP released the first concrete details on how Republicans plan to update the federal tax code. The Tax Cuts and Jobs Act provides tax relief to many Americans and has the potential to facilitate real economic growth through important business tax reforms. While the House proposal as a whole is certainly…

January marked the start of the first serious effort at federal deregulation in decades. Yet the massive pile of Dodd-Frank rules has remained largely untouched—until last week. On Tuesday night, the Senate exercised its power under the Congressional Review Act to repeal Dodd-Frank’s controversial arbitration rule, which would have banned many financial consumers from using…