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Congressman for Texas and Chairman of the Ways and Means Committee, Kevin Brady (right), Speaker of the House of Representatives, Republican Congressman Paul Ryan (C) and Congressional Republican Majority Leader Kevin McCarthy (left) pose after the vote on tax reform in Capitol Hill, Washington DC (United States) on Thursday, November 16, 2017. EFE / Michael Reynolds
Congressman for Texas and Chairman of the Ways and Means Committee, Kevin Brady (right), Speaker of the House of Representatives, Republican Congressman Paul Ryan (C) and Congressional Republican Majority Leader Kevin McCarthy (left) pose after the vote…

The Tax Reform is a fact

Only two weeks after having made their project public, the Republicans have given the first preliminary legislative victory to President Trump.

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Yesterday will be remembered as the day on which the Republicans managed to agree on something.

Just weeks after revealing their fiscal project, the Republicans managed to get the House to approve its reform plan that must be reconciled with the guidelines of the Senate Finance Committee, in a strategy that will affect "every corner of the country's economy,” as CNN reported.

"The House bill would mean tax cuts on average for all income groups in 2018 and most income groups in 2027, but the biggest benefits go to those at the top, according to the Tax Policy Center," the report continues.

This does not imply that every income group will pay less. On the contrary, the Tax Policy Center estimates that next year "next year about 10% of middle income filers and 20% of the highest income households would pay more”.

Read here our coverage on Republican Tax Reform:

5 things you should know today about the Tax Reform

A tailor-made Tax Reform

Tax cut and economic growth

The House approves the budget and paves the way for a tax reform

On The verge of a Tax Reform

A discrete tax reform

 

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