Key Senators Agree On A Road To Cutting Taxes This Year
Sen. Toomey has favored tax cuts but Sen. Corker had previously opposed any tax cuts that would add to the country's $20 trillion of debt. In backing off that stance, Sen. Corker opened the path for the Senate to pass a tax-reduction bill, but Senate passage would be only the first step in the legislative process.
To become law, the Senate bill would also need to be ratified by the House of Representatives, where its fate is far from certain. House Majority Leader Kevin McCarthy (R-Cal) and Speaker of the House Paul Ryan (R-Wis.) have previously said they would only approve of revenue-neutral tax cuts that don't add to the nation's debt, casting doubts on the political success of tax cuts that add to the budget deficit.
- Protect Yourself Against Spearphishing
- Even The New York Times Gets Investment Facts Wrong Sometimes
- First-Half Of 2018 Stock Investing Highlights
- U.S. Leading Indicators Growth Rate Slowed In May; Should You Worry?
- Signal To Noise Ratio Of U.S. Economy Is An Anomaly
- Father's Day Financial Tip: Put Your Kids To Work
- Is Economic Growth Sustainable?
- How The New Small Business Tax Break Phases Out
- Fed Shatters Conventional Economic Wisdom
- Four New Signs Point To Economic Strength (2-Minute Read)
- Are You Better Off Than 10 Years Ago?
- CNN, CNBC, And WSJ Mislead Investors
- 10 Years Of Financial History And The Current Outlook In 2-Minutes
- Lost In The Wild Headlines: A U.S. Economic Boom
- Facts About The Recent Volatility And Fears Of A Trade War
- A Guide To The New Rules On Tax Deductions In 2018
- Trade War, Resignations, And Scandal Overshadow Rise In Leading Indicators
- Changes To Estate Tax Explained In This Week's Wealth Update
- Stocks Surge 1.7% Friday As Tariff Fears Subside And New Jobs Surge
- The Economic News That Did Not Make Headlines This Week
- Will Rising Bond Yields Be Bad For Stocks?
- Stock Market Is Unfazed By Russia Indictment, Displaying What Makes America Great
- Stock Prices Corrected 11.8% Before Rallying Sharply Friday
- Why Stocks Plunged Last Week