taxes

Tax bill passes amid concerns about future effects on poor

U.S. House Speaker Paul Ryan, R-Wis., spoke Dec. 19 after the House of Representatives passed tax reform legislation in Washington. The final bill was passed by the House and Senate Dec. 20.

WASHINGTON — Republican lawmakers joined President Donald Trump in cheering passage of the most significant overhaul of the federal tax system in three decades even as the chairman of the U.S. bishops' domestic policy committee called on the president to work with Congress to fix "unacceptable problems" in the law.

Republicans hailed the Tax Cuts and Jobs Act as the stimulus needed to get the economy rolling into high gear as they expected corporations to reinvest in America with the middle class benefiting from lower taxes, higher wages and greater job opportunities.

Tax bill called 'unacceptable,' some provisions 'unconscionable'

WASHINGTON -- The Tax Cuts and Jobs Act of 2017 "is unacceptable" as currently written and it "contains many fundamental structural flaws that must be corrected," stated the chairmen of three committees of the U.S. Conference of Catholic Bishops.

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