'Tax Reform 2.0' Unveiled by House GOP

The U.S. Capitol dome is seen in Washington

Several Republican House members, facing tough re-election fights in high-tax, Democratic-leaning states like NY and New Jersey, voted against the tax legislation a year ago and would prefer to do without this new version as well.

President Donald Trump is rapidly losing favour among independent voters and has a low approval rating in general despite a strong economy, two new polls show, providing fresh warning signals for the president and the Republican Party ahead of the midterm elections. According to the House Democratic leader Nancy Pelosi, Tax Reform 2.0 is a scam that would not only add more to the country's deficit but would also make the richest even richer.

Though this is planned by the Republican lawmakers, several lawmakers from high-tax states disapprove of some provisions, especially due to the fact that Tax 2.0 included state and local tax (SALT) deduction cap.

Trump previously had openly questioned whether the 2018 midterm elections even matter, but now he appears to be paying attention.

Experts claim the rule affects high-tax states like California, New York and New Jersey - all which have highly contested midterm races.

The Protecting Family and Small Business Tax Cuts Act of 2018 (H.R. 6760), which would lock in the lower individual rates, larger child tax credit and larger standard deduction from last year's tax law.

Russian biggest war-games "Vostok-2018" underway
He commended them for their "high-level performance" in the "most active stage" of Vostok-2018. The Kremlin said the war games were routine and did not pose a threat to other countries.

Aside from making individual tax cuts permanent, Republicans say the legislation will including savings provisions meant to help small businesses offer 401 (k) retirement plans, allow 529 education savings plans to pay for apprenticeships and provide access to retirement savings for costs related to births and adoptions.

Midterm elections often serve as referendums on the incumbent president, which makes Trump's overall unpopularity a liability for Republicans.

Trump often cites the tax cuts enacted by Republicans as one of the driving forces behind the economy's aggressive growth. Results for the full sample have a margin of sampling error of plus or minus 3.8 percentage points, for the subset of 923 registered voters, it is plus or minus 3.9 and for the 775 likely voters plus or minus 4.3 percentage points.

Startup businesses would be permitted to write off more of their initial costs. In 2010, backlash to President Barack Obama and the passage of Obamacare led to the organization of the ideological Tea Party movement, which boosted Republicans back into control of the House.

"Despite the difficulty of the map's geography, if there's a big wave I think our odds are very, very good", Senator Chuck Schumer, the Democratic leader, said in an interview, adding that when "you're feeling the wave in September it rarely changes much by November". "Still plenty to do!"

Related News:

  • US  imposes North Korea-related sanctions on Russian, Chinese tech firms

    US imposes North Korea-related sanctions on Russian, Chinese tech firms

    The new sanctions target Russian-based Volasys Silver Star and China-based Yanbian Silverstar Network Technology Co, the U.S. The State and Treasury departments would decide on appropriate additional sanctions to recommend and impose, he said.
    Hurricane Florence starts flooding parts of the Carolinas

    Hurricane Florence starts flooding parts of the Carolinas

    By midnight, areas of coastal North Carolina were experiencing life-threatening storm surge, the National Weather Service said. People look out over the surf before Hurricane Florence comes ashore on Carolina Beach, North Carolina on September 13, 2018.
    At Least 5 Dead from Hurricane Florence

    At Least 5 Dead from Hurricane Florence

    Emergency declarations were in force in Georgia, South and North Carolina, Virginia, Maryland and the District of Columbia. McMaster had ordered residents in most of the state's coastal counties to evacuate ahead of Florence's arrival.
  • Osaka not saddened by Serena row in US Open final

    Osaka not saddened by Serena row in US Open final

    Open mixed doubles champion Jamie Murray said that Serena Williams' reaction to her recent U.S. "The WTA defense surprised me". And then before I knew it, I was getting all of this hostile mail and all of that during my last couple of years.
    Sharks Acquire Erik Karlsson From Senators

    Sharks Acquire Erik Karlsson From Senators

    The San Jose Sharks have acquired two-time Norris Trophy-winning defenceman Erik Karlsson from the Ottawa Senators . We're in the mode of trying to win right now, and I think that's something that's attractive to him.

    "Monster" Hurricane Florence Aims to Drench Carolinas

    And the storm surge, which could be as much as 12 feet in some areas, will be on top of sea level rise from climate change. After Florence's rain starts to fall this week, he said, the rainfall could continue through Monday .
  • Hurricane Florence: Woman, baby die after tree falls on house

    Hurricane Florence: Woman, baby die after tree falls on house

    Authorities say at least 20,000 people have evacuated their homes and are sought refuge in shelters throughout North Carolina. In a hurricane, as Live Science has reported , the most significant threat is flooding, not the high winds.
    3 new iPhones Xs, Xs Max & Xr and launched at Apple event

    3 new iPhones Xs, Xs Max & Xr and launched at Apple event

    While global smartphone market growth has stalled, Apple has kept revenue rising by lifting average selling prices. The models would be sold through 2,500 retail outlets of the company across the country, a press release said.
    Gary Neville Defends Himself Following Jurgen Klopp Criticism

    Gary Neville Defends Himself Following Jurgen Klopp Criticism

    Klopp though, is likely to stick with his strongest side when they pay a visit to Tottenham . The former Chelsea ace has netted twice and chipped in with one assist this time out.
  • Mychal Kendricks agrees to one-year deal with Seahawks

    Mychal Kendricks agrees to one-year deal with Seahawks

    According to the Inquirer, the judge said she wanted to be sure that Kendricks was not coerced into pleading guilty. He ran yesterday and he's working out again today, so he hasn't done that yet. "He's feeling pretty good".

    Mother and Infant Among First Reported Fatalities as Hurricane Florence Makes Landfall

    Wilmington Police confirmed that a mother and her infant died when a tree fell on their home. A town spokesman said between 60 and 75 people were awaiting rescue on Saturday.
    Track Hurricane Florence With These Tools

    Track Hurricane Florence With These Tools

    He said parts of North Carolina had seen storm surges - the bulge of seawater pushed ashore by the hurricane - as high as 10 feet. North Carolina's Emergency Management tweeted that more than 154,000 homes were already without electricity by late Thursday.


Most liked

'A f…ing killer': Book says Trump talked behind el-Sissi's back
Woodward, since becoming renowned in the 1970s for his Watergate reporting, has written loads of bestsellers about sitting presidents.

Browns to release WR Josh Gordon
He first was suspended in 2014, and did not play again until November 2017, when he was reinstated on a conditional basis. Details are slowly starting to emerge surrounding the Cleveland Browns' shocking decision to move on from Josh Gordon .

Trump signs order for sanctions against foreigners who meddle in polls
Last week, executives from Facebook and Twitter testified before the Senate intelligence committee about Russian interference. Russian entities have not targeted those systems to the degree they did in 2016, Coats said Wednesday.

NASA revealed the extent of hurricane Florence from space
The National Hurricane Center forecasts additional strengthening for Florence before it reaches the coastline of North Carolina and SC early Friday, Sept. 14.

Hurricane Florence: What storm surge could look like on East Coast
And while the 2,000-plus cancellations from Florence is significant, it's far below what fliers have faced in other major storms. Hurricane expert Dr Rick Knabb warns: "Yes good news that intensity of Florence has come down, to lessen wind damage somewhat".

Relentless Liverpool sweep aside Tottenham to stay top
It is not about playing well, it is about attitude and to say, "Hey, come on, we are aggressive and we try to win". Now we won a few games, that's good, but it doesn't change anything for us.

'Dreadful Act': More Brands Recalled, $100K Reward Offer
Contaminated punnets have been found across the country, in supermarkets in New South Wales , Queensland and Victoria. A Queensland man posted this photo of a strawberry with a needle in it after reporting his friend swallowed one.

US says transfer from FEMA funds won't harm hurricane relief
Additionally, Hurricane Harvey struck Texas in August and Hurricane Irma struck Florida in September, leaving FEMA stretched thin. Without the transfer of funds, the document notes, 'ICE will not be able to fulfill its adult detention requirements in FY 2018'.

Hurricane Florence Satellite Images Revealed Rare Phenomenon Over The Atlantic
Ireland is expected to endure the worst of the storm, while Wales and the Cornish peninsula will bear its brunt in England. Tropical storm conditions are possible within the tropical storm watch area, also beginning late this morning.

Powers cite need for peace in Idlib — UN official
Turkey has also gathered forces on its own borders to deter Syrian civilians fleeing the fighting. UN Special Envoy for Syria Staffan de Mistura at a meeting in Geneva on September 14, 2018.

You Can Pre-Order The iPhone Xs In Australia Right Now
Three's most outstanding iPhone XS Max contract has unlimited data , minutes and texts priced at £ 64 a month , plus £99 upfront. After a cost cut for batteries following a scandal a year ago , Apple is putting up prices for iPhone ones by up to £40.

A year later, Golovkin, Alvarez meet with bad intentions
Only a freak scorecard from judge Adalaide Byrd, who triggered uproar after ruling it 118-110 Alvarez, denied Golovkin a victory. A more aggressive approach from Alvarez, however, may well play into Golovkin's hands.

Pope Francis Summons Bishops for Sex Abuse Summit
The head of the Catholic church said the devil "had it in" for bishops "in order to scandalise the people". The pope is scheduled to meet with Cardinal Daniel DiNardo, president of the U.S.

Carolina coast braces for 'Mike Tyson punch' from hurricane
President Donald Trump has declared states of emergency for North and SC and Virginia, which frees up the way for federal aid. Emergency workers monitor hurricane progress at the Emergency operations centre in Wilmington, North Carolina.

Meghan Markle Lets Her Dog Poop on Kensington Palace Grounds
Royal protocol stipulates that a female member of the royal family must not wear pants in the presence of the Queen. According to the magazine, she's cut her circle of friends down to a select few whom she knows are trustworthy.