House panel backs bill to make Trump tax cuts permanent

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(Worthy News) - A Republican-led panel in the U.S. House of Representatives voted on Thursday to make permanent individual tax cuts from President Donald Trump’s 2017 tax overhaul, a move widely seen as a partisan ploy to help Republican candidates in the Nov. 6 congressional elections.

Members of the tax-writing House Ways and Means Committee voted 21-15 along party lines to send the measure to the House floor for a full chamber vote expected by Oct 1. But the tax cuts are likely to be dead on arrival in the Senate, where they would need Democratic support to pass.

The tax overhaul that Trump signed into law last December, known as the Tax Cuts and Jobs Act, gave permanent tax relief to corporations but set individual cuts that will expire after 2025. [ Source (Read More...) ]

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