Sen. Kamala Harris (D., Calif.) on Friday ripped a provision in the Senate Republican tax reform bill that gives a tax break to private airplane owners, not noting that a fellow Democrat proposed a similar idea earlier this year.
On Thursday, the House of Representatives passed its tax reform framework, the Tax Cuts and Jobs Act, in a 227-205 vote.
The federal government collected approximately $235 billion in taxes in the first month of fiscal year 2018, but the government still ran a $63 billion deficit during that time, according to the latest monthly Treasury Department statement.
Small pass-through businesses would benefit from the House Republican Tax Cuts and Jobs Act, according to a report from the Tax Foundation.
The Senate plans to introduce their version of tax reform today, which will give a typical American family a tax cut of nearly $1,500, according to a two-page summary of the bill.
The Tax Cuts and Jobs Act would help lower and middle-class families see their after-tax incomes increase, according to an analysis from the Tax Foundation.
The Tax Cuts and Jobs Act, the new legislation introduced by the House last week, would create nearly one million new jobs and increase gross domestic product by 3.9 percent, according to an analysis from the nonpartisan Tax Foundation.