Politics

LIVE UPDATES: Republicans roll out GOP tax reform bill

Republicans in the U.S. House rolled out their long awaited tax reform bill on Wednesday, vowing to quickly move it through the Congress, arguing it will help spur economic growth, job creation, and in turn bring in more revenue to Uncle Sam to deal with the growing federal deficit and debt. But the details quickly faced opposition from some key business groups, as well as GOP lawmakers, who worried about how the elimination of certain personal deductions would impact voters back home.

The GOP bill is 429 pages in all. Click on the link to read through the fine print.

And click here for a detailed analysis of the bill from the GOP. This document helps you understand some of the changes the GOP would make in this legislation, especially on individual deductions, many of which would be repealed.

The bill won’t be named the “Cut, Cut, Cut Act,” as some said was favored by President Donald Trump. Instead the official name is “Tax Cuts and Jobs Act.”

Here’s the latest on what we know about the GOP plan.

6:00 pm – I will end the updates on this blog by giving the link