Hice: One step closer to tax reform, relief

President Donald Trump hailed the vote to overhaul the US tax system which helped fuel a rally in global marketsMore

"It will stimulate our nation's economy, create jobs, and put more money into the pockets of hardworking Americans". It compares two years, in 2019 when the tax law would begin to go into effect, and in 2027, by which time the legislative changes envisioned in the bill will have been enacted.

His office's projections for a family of four in Genesee County with the average family household income, average home value, an estimated mortgage interest of 4 percent would save an average of $1,637.50 annually under the plan. In North Carolina, we can expect more than 27,000 new jobs as a result of this legislation. He also says that the lion's share of the cuts are going to the top one percent.

The White House has said more than $2.5 trillion in American profits are held offshore, other estimates peg the number at $2 trillion. While both bills share the main priorities of cutting corporate and individual taxes, they diverge on matters of high political sensitivity, particularly for vulnerable House Republicans from high-tax states and for Senate Republicans concerned about adding to the federal budget deficit.

Deemed Repatriation: Enacts deemed repatriation of now deferred foreign profits at a rate of 14 percent for liquid assets and 7 percent for illiquid assets.

Why owning a dog might help you live longer
Dog owners were more likely to be younger than non-owners, Fall and colleagues wrote, and were more likely to live in rural areas. The study looked at previously self-reported data on almost 3.5 million Swedes between the ages of 40 and 80.

President Trump reacted with a Twitter message that congratulated the House, and cited "a big step toward fulfilling our promise to deliver historic TAX CUTs for the American people by the end of the year!"

Following the House's 227-205 vote Thursday to pass its version of the Republicans' tax reform bill, all eyes now move to the Senate, where a committee vote is expected Friday. "Lawmakers have tackled a hard project; tax reform is not easy, but today's passage in the House moves us one step closer to accomplishing a once-in-a-generation reform of the tax code". Its greatest defect is the one that prompted Congressman Walter B. Jones (NC-3), a leading fiscal conservative to reluctantly vote against it - it does not include spending cuts along with the tax cuts.

A huge tax overhaul barreling through Congress is threatening stormy years ahead for America's working families.

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