If you say no, 202 7488001 send 202 7488001. Send us a tweet. All eyes on the house and senate. We will have the coverage on the cspan network, but first we will tell you what is in the bill. The Corporate Tax rate will drop to 21 from a current rate of 39 . The top individual income tax 37 . Drops from 39. 6 to it increases the standard deduction for all who take it. Businesses will get a 20 discount on the individual tax rate. The alternative minimum tax is. Etained but it is narrow the corporate alternative minimum tax is taken out. State and local productions are capped at 10,000. Student Loan Interest remains deductible while graduate Student Loans do not. Joining us is Bernie Becker who has been following this for politico. Walk us through the schedule this week. What can we expect . Guest we expect the house to take this up on tuesday. After that, it would move to the senate. President trump hopes to sign this by the middle of the week and by all accounts, it looks to be on a pr
Lot of the competitions that were there does go away but also, how we deal with international competition. Much of that will get fixed. It is tax reform like 1986. And it is rate reduction, pro growth. Said you could do your taxes on a postcard. Will that be the case . Now, two thirds of americans use the standard and that will go up to. 0 of americans there will that a larger standard deduction now. So it will be a lot easier for most people but for others it will be complicated. Host explain what will happen to the alternative minimum tax for individuals . Guest we had hoped to abolish it completely. But high income people will have to deal with it. I think we should get rid of tax theyications like that and came down towards 20 million. Grow back again. So right now it isnt completely it is gone for 99 of people. Not in the bill that you wish was included . Guest a couple of people. Everything that happens here. Goyou are french and you back to france, and you take your money with y
Lot of the competitions that were there does go away but also, how we deal with international competition. Much of that will get fixed. It is tax reform like 1986. And it is rate reduction, pro growth. Said you could do your taxes on a postcard. Will that be the case . Now, two thirds of americans use the standard and that will go up to. 0 of americans there will that a larger standard deduction now. So it will be a lot easier for most people but for others it will be complicated. Host explain what will happen to the alternative minimum tax for individuals . Guest we had hoped to abolish it completely. But high income people will have to deal with it. I think we should get rid of tax theyications like that and came down towards 20 million. Grow back again. So right now it isnt completely it is gone for 99 of people. Not in the bill that you wish was included . Guest a couple of people. Everything that happens here. Goyou are french and you back to france, and you take your money with y
Also how we deal with international competition, which was damaging to the United States much of that gets fixed. It is tax reform like the bipartisan 1986 tax reform fix, but his rate reduction progrowth. The president and speaker ryan said that you can do your taxes on a postcard. Will that be the case . Can. R 80 to 90 right now, two thirds of americans use the standard induction. I do not have to itemize their deductions. 95 . Will go up to at least 90 of americans will have the benefit of it. The do not need to, because they get a larger standard deduction before doubling it. So yeah, it will be easier for most people. Some will have more complicated ones family like. Theres more to be done. Happenexplain what will to the alternative minimum tax for individuals. Not corporations, but individuals. Grover we hope to abolish it completely. Because of senate rule constraints, we were not able to. I think we should get rid of it, because any tax consultation it camet can start down to
For a first look at what the republican sales pitch will look like, we welcome kevin cirilli. He has been reporting right through this. Now to how they will sell this to the American People. What do we know . Ago, i was moments speaking with some senior republican aides who tell me that at 5 00 tonight, they will have this house Conference Meeting behind closed doors, and they will have to hash out the details of the continuing resolution. They will have to rebrand their pitch to the American People. Polled say they think their taxes are going to go up as a result of this plan. Republicans are pushing back against that vehemently, the democrats are making the case that they feel this will only benefit the wealthy. Know that and i both they are blaming it on the media, pretty standard move, saying it is all our fault and we are misselling this thing. At the cabinet meeting, the president said it is fake news, fake news. Thewill they make sure American People know what they got and what