Funding for sports programs at question in new tax bill

Podcast: Tax reform and the Constitution

For months now, tax relief and tax reform have been front and center in Congress, and this week, we moved it one step closer toward the finish line. They also say a bigger standard deduction as well as a larger deduction for having dependents would lower taxes on middle-class Americans. Reed has been an outspoken supporter of the bill, which lowers federal taxes for 99 percent of taxpayers in New York's 23rd District. This bill keeps more money in the hands of average Americans.

McMorris Rodgers supports recent Tax. "Just think of how much that's going to save for people who have to pay to have their taxes done because the code is so complicated". It's going to be jobs growth, job opportunities and, ultimately, it's going to mean increased economic activity and an increased number of people that are in the workforce that are working, that are paying taxes.

The Senate still must vote on its own version of a tax reform plan and if that passes then it must be settled in a conference committee.

College athletic administrators are anxious that proposed reforms in the House's tax bill, which passed Thursday, will have major effects on their programs' funding. But there's a dire warning in this report about the way this would impact scholarships for athletes, and this feature is part of a tax bill that is broadly and wildly unfriendly to colleges and those who'd like to attend them, in addition to all us regular non-millionaires out here.

Oil slips, as USA supply threatens to undermine OPEC cuts
Oil prices have risen steadily over the past few months as the impact of supply cuts has drained inventories. As of 16:02 GMT, West Texas Intermediate crude oil futures were 1% lower at $55.17 a barrel on the ICE.

Sen. Ron Johnson, R-Wis., announced Wednesday that he would not vote for the Senate tax plan as it stands. I hear from a lot of people in Eastern Washington, especially farmers, business owners, small-business owners, that that is a very hard tax. By 2027, families making less than $75,000 would face tax boosts while those making more would see cuts.

Turning to the Senate's tax cut bill, Bishop Dewane said the USCCB continued to assess its provisions but offered comments about a few provisions.

He welcomed expansion of the child tax credit and a provision that incentivizes paid family and medical leave, but called for that provision to continue beyond 2019, when the bill calls for it to end.

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