Chuck Schumer Just Got Some Very Bad News That Wrecked His Career
Chuck Schumer has spent one year obstructing Donald Trump.
He's attempting to destroy his Presidency and drive him from office.
But the Democrat leader just got some very bad news that ruined him for good.
Republicans in Congress reached a deal on a historic tax cut legislation.
This was a top priority for Trump.
Politico reports:
"THE AGREEMENT INCLUDES A 37 PERCENT TOP TAX RATE FOR INDIVIDUALS, SENATE MAJORITY
WHIP JOHN CORNYN (R-TEXAS) SAID, LOWER THAN EITHER THE HOUSE OR SENATE CALLED FOR EARLIER.
THE CORPORATE TAX RATE WOULD BE 21 PERCENT, HIGHER THAN THE 20 PERCENT IN EACH CHAMBER'S
SEPARATE LEGISLATION, AND WOULD START IN 2018 INSTEAD OF BEING DELAYED UNTIL 2019 AS THE
SENATE PROPOSED.
"PASS-THROUGH" BUSINESSES THAT PAY TAXES THROUGH THE INDIVIDUAL SIDE OF THE TAX CODE
WOULD GET A 20 PERCENT DEDUCTION, AND BUSINESSES WOULD GET TO IMMEDIATELY WRITE OFF INVESTMENTS
FOR THE NEXT FIVE YEARS.
THE CORPORATE ALTERNATIVE MINIMUM TAX, WHICH BUSINESS GROUPS HAD FOUGHT HARD TO GET SQUELCHED
IN A FINAL DEAL, IS OUT, SOURCES SAID.
THE AMT FOR INDIVIDUALS IS RETAINED, THOUGH FEWER PEOPLE ARE EXPECTED TO PAY IT AS THE
EXEMPTION WOULD BE RAISED TO $1 MILLION FOR COUPLES.
THE ESTATE TAX, LONG A TARGET FOR ELIMINATION BY REPUBLICANS, WOULD BE KEPT, CORNYN SAID,
THOUGH THE EXEMPTION WOULD BE DOUBLED.
THE FINAL LEGISLATION WOULD ALSO END OBAMACARE'S MANDATE THAT ALL AMERICANS HAVE HEALTH INSURANCE
OR FACE A FINE.
THE SENATE PLANS TO TAKE UP THE BILL FIRST, ON MONDAY, WITH A FINAL VOTE BY THE CHAMBER
ON TUESDAY."
Republicans have a narrow 52-48 and are pressing ahead to hold the final vote to deliver economic
relief to the American people.
But Chuck Schumer is playing politics.
He is demanding the Republicans delay the vote until Doug Jones is seated following
his victory in Alabama's special election.
Chuck Schumer has spent one year obstructing Donald Trump.
He's attempting to destroy his Presidency and drive him from office.
But the Democrat leader just got some very bad news that ruined him for good.
Republicans in Congress reached a deal on a historic tax cut legislation.
This was a top priority for Trump.
Politico reports:
"THE AGREEMENT INCLUDES A 37 PERCENT TOP TAX RATE FOR INDIVIDUALS, SENATE MAJORITY
WHIP JOHN CORNYN (R-TEXAS) SAID, LOWER THAN EITHER THE HOUSE OR SENATE CALLED FOR EARLIER.
THE CORPORATE TAX RATE WOULD BE 21 PERCENT, HIGHER THAN THE 20 PERCENT IN EACH CHAMBER'S
SEPARATE LEGISLATION, AND WOULD START IN 2018 INSTEAD OF BEING DELAYED UNTIL 2019 AS THE
SENATE PROPOSED.
"PASS-THROUGH" BUSINESSES THAT PAY TAXES THROUGH THE INDIVIDUAL SIDE OF THE TAX CODE
WOULD GET A 20 PERCENT DEDUCTION, AND BUSINESSES WOULD GET TO IMMEDIATELY WRITE OFF INVESTMENTS
FOR THE NEXT FIVE YEARS.
THE CORPORATE ALTERNATIVE MINIMUM TAX, WHICH BUSINESS GROUPS HAD FOUGHT HARD TO GET SQUELCHED
IN A FINAL DEAL, IS OUT, SOURCES SAID.
THE AMT FOR INDIVIDUALS IS RETAINED, THOUGH FEWER PEOPLE ARE EXPECTED TO PAY IT AS THE
EXEMPTION WOULD BE RAISED TO $1 MILLION FOR COUPLES.
THE ESTATE TAX, LONG A TARGET FOR ELIMINATION BY REPUBLICANS, WOULD BE KEPT, CORNYN SAID,
THOUGH THE EXEMPTION WOULD BE DOUBLED.
THE FINAL LEGISLATION WOULD ALSO END OBAMACARE'S MANDATE THAT ALL AMERICANS HAVE HEALTH INSURANCE
OR FACE A FINE.
THE SENATE PLANS TO TAKE UP THE BILL FIRST, ON MONDAY, WITH A FINAL VOTE BY THE CHAMBER
ON TUESDAY."
Republicans have a narrow 52-48 and are pressing ahead to hold the final vote to deliver economic
relief to the American people.
But Chuck Schumer is playing politics.
He is demanding the Republicans delay the vote until Doug Jones is seated following
his victory in Alabama's special election.
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