WILD RIDE, KATIE, THANK YOU
SEE YOU SOON.
WELL, REPUBLICANS ARE ON
THE VERGE OF PASSING TAX
REFORM LEGISLATION FOR THE
FIRST TIME IN DECADE.
BILL WILL BE VOTED ON TODAY
AND G.O.P. LEADERS SAY THEY
ARE CONFIDENT TO HAVE THE
SUPPORT TO PASS THE
LEGISLATION.
WEIJIA JIANG HAS MORE DETAILS
FROM CAPITOL HILL.
REPORTER: THE HOUSE IS
PREPARING TO PASS A NEARLY
$1.5 TRILLION TAX REFORM BILL.
COME JANUARY 1ST, AMERICANS
WILL BE ABLE TO KEEP MORE OF
WHAT THEY EARN, AND THEY HAVE,
WILL HAVE A STRONGER ECONOMY,
AND STRONGER PAYCHECKS, AND
WE'RE FINALLY GOING TO SEE OUR
AMERICAN JOB COME ABOUT A FROM
OVERSEAS.
REPORTER: IT REDUCES RATES
AND THEN DOUBLES THE STANDARD
DEDUCTIONS FOR INDIVIDUALS,
AND FAMILIES.
BUT THE BIGGEST WINNERS ARE
CORPORATIONS, WHICH WILL SEE
THEIR RATES SLASHED,
SIGNIFICANTLY.
HOUSE SPEAKER PAUL RYAN HAS
SPENT HIS ENTIRE CAREER,
WORKING ON TAX REFORM.
IT IS AN HONOR TO BE
SPEAKER OF THE HOUSE TO SEE
THIS LAST TIME THIS GOT DONE
THE JOB I HAD I WAS WORKING AT
A QUARTER POUND ARE GRILL AT
INTERSECTION OF JAMESVILLE
WISCONSIN.
REPORTER: NOT A CLEAN SWEEP
OF REPUBLICANS THAT FOR THE
FOR THE BILL.
HOUSE MEMBERS IN HIGH TAX
STATES SUCH AS NEW YORK, NEW
JERSEY AND CALIFORNIA, SAY
THAT THE CAP ON STATE AND
LOCAL INCOME TAXES DEDUCTIONS
HURTS THEM, THE MOST.
WELL, YOU CAN HEAR,
ESPECIALLY FOR THE REPUBLICANS
REPORTER: CONGRESS HAS
PASSED BIGGER TAX CUTS, BEFORE
, BUT THAT CANNOT STOP
PRESIDENT TRUMP FROM
CELEBRATING ON TWITTER SAYING
THIS IS BIGGEST TAX CUTS AND
REFORM EVER PASSED.
ENJOY, CREATE AND CREATE MANY
