Real Newsblast Episode 5: Tax Bill Rewrites, Child Brides, Walkout
Tax Reform Bill may have to be rewritten So, we remember when the tax scam was passed hastily? It’s infamous for the handwritten changes they made hours before it was to be passed, and it got rid of the State and Local Taxes Deduction—SALT—which disproportionately hurt higher tax/blue states. It also got rid of the deduction for teachers and supplies. It also has something about S corporations that allow a rich person to save more money, something called a pass through. So after the Kochs invested in Paul Ryan to the tune of a half million dollars (make note: Most of it was to a PAC for Republicans), we are seeing headlines that the bill may need to be rewritten. The fiscal times reports on two specific areas that will have to be fixed in the legislation The ‘Grain Glitch’: The legislation allows farmers to deduct 20 percent of their total sales to cooperatives . “This allows farmers to deeply reduce their tax bills, but it has caused an uproar among independent...