Standard deduction for individuals increases from $6,000 to 12,000 and for couples from $12,000 to 24,000. Corporate tax rate cut from 35% to 20%. Obamacare mandate abolished. But instead of reporting this he focuses on trivialities.
In a way, some do. IRS allows mileage deductions for business & charitable purposes - which includes, as I understand it, factors for maintenance, insurance, gasoline, and "wear-and-tear" costs. While not entirely equivalent to the proposed language in the bill under discussion, it doesn't strike me as all that different in nature...
Will this affect the market for flying cars?
ReplyDeleteStandard deduction for individuals increases from $6,000 to 12,000 and for couples from $12,000 to 24,000. Corporate tax rate cut from 35% to 20%. Obamacare mandate abolished. But instead of reporting this he focuses on trivialities.
ReplyDeleteYup. Rand Paul's on board, too. Surprised we haven't seen a "Bob Corker: Heroic" post yet.
DeleteI assume we'll get a complete breakdown of this latest "reform" within the next couple of days?
ReplyDeleteAfter the reconciliation
DeleteIn a way, some do. IRS allows mileage deductions for business & charitable purposes - which includes, as I understand it, factors for maintenance, insurance, gasoline, and "wear-and-tear" costs. While not entirely equivalent to the proposed language in the bill under discussion, it doesn't strike me as all that different in nature...
ReplyDelete