Free Republic

John Cornyn, the senate majority whip, was pushed by news-makers on Sunday to explain a last minute addition to the final tax bill which could benefit those with real estate income. Senator Bob Corker supported the bill at the last minute, after the language was added. John Cornyn, the second-ranking Republican in the Senate, was pushed by news-makers on Sunday to explain a last minute addition to the final tax bill that could benefit those with real estate income. The provision calls for a tax deduction on income made from "pass through" entities, like real estate LLCs, including those with...

Bold tax reform got a big boost on Wednesday. Leaders in the House, the Senate, and the White House have all agreed on a tax outline, meaning a true update to our broken tax system could be imminent. First, the GOP tax plan framework would lower taxes for individual Americans. It would double the standard deduction for individuals and thereby expand the zero-percent bracket, and it would create three income tax brackets (down from seven): 12, 25, and 35 percent, respectively. Most simply, this will allow all Americans to keep more of their hard-earned money in their pockets. Importantly, the...