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CNN News:美国共和党公布税改议案 遭民主党强烈反对

Source: 恒星英语学习网    2017-11-13   English BBS   Favorite  

First subject today is tax reform. Major changes to the U.S. tax code haven't been made for more than 30 years. But that's a priority for congressional Republicans and U.S. President Donald Trump.
And yesterday, Republicans in the House of Representatives unveiled their plan for doing it. It's called the Tax Cuts and Jobs Act. It has some similarities to the proposal made by the Trump administration in late September and one of them is reducing the number of tax brackets based on Americans' income.
Currently, there are seven brackets. Under the House Republican plan, that number would be reduced to four. And generally speaking, it would reduce the income taxes that Americans pay to the federal government, unless they make more than $500,000 per year.

The plan contains several other provisions aimed at reducing Americans' taxes. As far as businesses go, the proposal would reduce the corporate tax rate, which is a tax on their profits. Currently, that rate is 35 percent. The House plan would reduce it to 20 percent.
Critics say lower taxes would mean less revenue for the federal government, and therefore, a greater deficit. Supporters say lower taxes would increase economic growth, leading to more revenue and a smaller deficit. President Trump and some Republicans have said they like to have tax reform passed by Christmas, but it still has to clear hurdles in the House and Senate before it gets to the president's desk.
Some Republicans have expressed reservations about the plan, while some Democrats have said they want to kill it altogether.


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