WNPR

taxes

Ron Cogswell / Creative Commons

The U.S. Senate passed a GOP-sponsored tax bill on Tuesday evening, after the House of Representatives did the same earlier in the day.

Updated at 6:25 p.m. ET

Congressional Republicans released a final draft of their tax bill Friday. With newfound support from two wavering senators, lawmakers appear to be on track to pass the measure and deliver it to President Trump for his signature by Christmas.

Votes in the House and Senate are expected next week.

With lawmakers in the House and Senate announcing that they've reached a deal, affordable housing advocates are anxiously waiting to see which version of the bill wins out with regard to housing. They say the House bill has a poison pill in it.

"The effect would be devastating," says Diane Yentel, president of the National Low Income Housing Coalition. "It would mean a loss of around 800,000 affordable rental homes over the next 10 years."

Wealthy Americans may get a new conduit for political money in the tax overhaul bill now being reconciled on Capitol Hill.

A small provision in the House version of the bill would let big donors secretly give unlimited amounts to independent political groups — and write off the contributions as charitable gifts.

ccPixs.com, Flickr creative commons

In a move that signals a shift in the health care market, CVS/Health announced a $69 billion deal to buy Aetna - the third largest insurer in the nation. This would be one of the biggest health care deals of all time, and would leave Aetna CEO Mark Bertolini with a sweet $500 million payout.

Ryan Caron King / WNPR

WNPR’s Jeff Cohen and Ryan Caron King are back on the ground in Puerto Rico.

This hour: an update from The Island Next Door. We get the latest on local recovery efforts in the aftermath of Hurricane Maria. 

Alex / Creative Commons

Reaction to passage in the Senate of the Republicans’ tax agenda has been swift in Connecticut. Both Connecticut senators, along with all of their Democratic colleagues, opposed the bill, which was passed at 2:00 am Saturday morning, with no hearings. 

Updated Dec. 2 at 11:57 a.m. ET

The Senate narrowly approved a $1.4 trillion tax overhaul early Saturday morning following a day of procedural delays and frustration.

The legislation, which would cut the top corporate tax rate to 20 percent and lower taxes for most individuals, narrowly passed in a vote of 51-49. Tennessee Republican Bob Corker was the only Republican to vote against the legislation, joining every Democrat and both independents in opposing the sweeping overhaul of the nation's tax laws.

Updated at 11:20 a.m. ET

Senate Republicans continued maneuvering to pass their overhaul of the nation's tax code on Friday, possibly working around concerns by stern deficit hawks after an official estimate on Thursday said that the economic growth spurred by the plan would still leave a $1 trillion hole in the deficit.

Republicans lawmakers are considering a federal budget "trigger" that would raise taxes if proposed tax cuts don't deliver the economic growth they have promised.

But the proposal is generating a lot of pushback from critics, especially conservatives.

The so-called trigger mechanism would be a legislative provision to rescind corporate tax cuts by as much as $350 billion if revenue targets are not met, Bloomberg News reports.

Graduate students around the country walked out of their classes, office hours, and research labs to protest the House Republican tax plan Wednesday.

"This plan is going to be disastrous for higher ed," said Jack Nicoludis, a Harvard graduate student in chemistry, who helped organize a protest on the campus. He said the bill would more than double his taxes.

Chion Wolf / WNPR

Connecticut Attorney General George Jepsen announced this week that he will not be seeking a third term. This leaves two huge holes to fill - AG and Governor - with no clear front-runners.

Daniel Voyager / Creative Commons

Today's Scramble will be another all-call show. We won't have any guests -  just you and your calls to Colin. 

Chion Wolf / WNPR

It’s been a hectic few weeks on Capitol Hill, but the Thanksgiving recess means a bit of rest for lawmakers and a chance for us to check in with a member of the Connecticut delegation.

John Morgan / Creative Commons

The House of Representatives passed a 440-page tax bill Thursday that was introduced two short weeks ago. Among other things, the bill would remove deductions  important to people with big medical expenses and college tuitions and ultimately hit hardest those making $75,000 or less. 

Pages