Reporter melissa, as you said, that bill is now public. And here is some Additional Details that we have learned about whats in it the repatriation rates are slightly higher than what we had been reporting 8 for illiquid assets and 5. 5 for cash previously we had been told that rate would be 15 for cash the individual mandate, that repeal will begin in 2019. So a oneyear delay of the repeal of the individual mandate. On carried interest were told the threeyear holding period, that both the house and the senate have proposed, will remain also the first in first out provision that would limit investors ability to choose when they sell their stocks, that is out of the final version of the bill. Now, a lot of the other sort of headline numbers that we had been reporting are now confirmed. The corporate rate would be 21 . And that would take effect immediately. The top rate for individuals, 37 . And that would apply to individuals with income of 500,000 or above or couples with income of 60
My point is this. A new tax codeve for a new era of american prosperity. That is what the tax cuts and jobs act does. Vote, we willthe be able to finally because the house and Senate Versions were different families, small businesses, and our local businesses that compete around will now have a bill to analyze and embrace. Im very excited about this moment. It has been 31 years in the making and took a lot of hard work. Took a lot of people to make this day happen. I am proud of the tax cuts and jobs act. Wed be glad to take some questions. At the start, you were talking about four brackets, filing on a postcard, simplicity. It doesnt look like that anymore. With the standard deduction nearly doubled, the postcard still remains. Are there a few more items . Sure. That was the process we wanted. We said, this isnt our tax code. It belongs to the american people. In the house, we took it down to the foundation and began to the americane way people want it in the 21st century, not 30 or 5
This hour, fox business, weve got the market moving details, theyre here at this table right now. What will your tax break be get ready, weve got the breaking news the votes have commas early as monday. This, as President Trump risks fbi bias in the Hillary Clinton email investigation ahead of his big speech at quantico today before new fbi recruits as newly released documents reveal former fbi director james comey s initial draft statement exonerating Hillary Clinton was edited numerous times to soften the fbi findings. Coming up youre going to see what the fbi really thought about hillary. Companies like comcast, verizon and at t sharing the end of wet blanket obamaera internet rules. Were going to show you the media and debunk the myth about whats really going to happen to your online streaming and shopping tonight an allstar guest line up including swiss american share craig smith, conservative radio host nina low den, david clark and reagan Economic Policy advisor art laffer, all
Good evening, everyone. We have filed the bill on the tax act in the house. This means the text of this new tax reform bill will become public now and the American People will be able to assess the impact of a new tax code. My point is this, we deserve, americans deserve a new tax code for a new era of american prosperity. That is exactly what the tax cuts and jobs act does. As we head to the vote, we will also be able to finally because the house and Senate Versions were different, families, small businesses, and our local businesses that compete around the world will have a bill to analyze and embrace. I am excited about this moment. It has been 31 years in the making. And a lot of hard work about a lot of people to make this day happen. I am proud of the tax cuts and reporter you are talking about four brackets filing on a postcard simplicity. It does not look like that anymore. With the standard deductions nearly doubled, the postcard still remains. Are there a few more items on it
The house scheduled for tuesday. After the bill was filed in the house, ways and Means Committee chair kevin brady spoke to reporters for 10 minutes. Good evening, everyone. We have filed the bill on the tax act in the house. This means the text of this new tax reform bill will become public now and the American People will be able to assess the impact of a new tax code. My point is this, we deserve, americans deserve a new tax code for a new era of american prosperity. That is exactly what the tax cuts and jobs act does. As we head to the vote, we will also be able to finally because the house and Senate Versions were different, families, small businesses, and our local businesses that compete around the world will have a bill to analyze and embrace. I am excited about this moment. It has been 31 years in the making. And a lot of hard work about a lot of people to make this day happen. I am proud of the tax cuts and jobs act and i will take questions. You are talking about four bracke