The 1 GOP Tax Provision Social Security Recipients Must Be Aware Of
Put plainly, major legislation has been a struggle for President Trump and the Republican-led 115th Congress. Multiple attempts at passing healthcare reform were made earlier this year, but to no avail, despite controlling a majority of seats in the House and Senate. That looks to change with individual and corporate income-tax reform.
On Nov. 16, the House passed its version of tax reform, known as the Tax Cuts and Jobs Act. It stuck to many of the core principles that President Trump had outlined during his campaign, including a shrinkage of individual and corporate tax rates, and a simplification of the U.S. tax code. Not too long thereafter, the Senate also passed its own tax-reform bill by the narrowest of margins (51 to 49). Finally, on Dec. 13, both houses agreed to a final proposal that they hope to send to President Trump's desk to be signed into law.
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Source: Fool.com
