Corporate And Individual Taxes To Get Cut In The Proposed Republican Tax Bill

As written in an article by Rachel Gerber on 2nd November 2017, the JURIST, also known as the Committee on Ways and Means of the Republican Controlled House of Representatives released a proposal on jobs act and tax reduction. Kevin Brady, who chairs the committee, introduced the so-called Tax Cuts and Jobs Act on Thursday this week.

 

Paul Ryan, the House Speaker, co-sponsored Kevin Brady’s proposal. According to the article, Brady emphasized that the bill intended to help the American people who belonged to the low and the middle class. He further said that the American legislation got wholly focused on:

  • Growing the economy
  • Taking the jobs back to the local communities
  • Increase salaries for the workers
  • Ensuring that Americans got to save more of their earnings.

Rachel Garber indicated in the article that the proposed Act will not only lower tax rates for all the earning Americans within the low and middle class but will also lower business taxes. The article further explains that the Child Tax will get expanded and renamed the Family Credit to accommodate additional aid and support. Tax Credit will get added to the new Family Credit. High earning Americans will retain their usual tax rate of 39.6 percent. Rachel further indicates that the estate tax will get phased out by the end of the year 2023.

 

The article got published on Paper Chase, the JURIST’s news service provider. Comprising of a team of 30 editors and reporters who are law students, the Paper Chase provides real-time legal news. The team gets led by a university professor, Bernard Hibbitts, who teaches law at Pittsburg School of Law. The paper offers an educational service which explains why they get dedicated to presenting critical legal news. The format used in the presentation is accessible. The news is not only presented intelligently but also objectively. The materials get spread and presented rapidly.