Do You Win or Lose? 8 Things in GOP Tax Plan

Your 401(k) is safe
By Kate Seamons,  Newser Staff
Posted Nov 2, 2017 9:50 AM CDT
Speaker of the House Paul Ryan, R-Wis., is shown.   (AP Photo/J. Scott Applewhite)
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(Newser) – The name "Cut, Cut, Cut Act" has been, well, cut, and that's not all. GOP House leaders are releasing what the Washington Post reports will be called the "Tax Cuts and Jobs Act," and details are emerging on precisely what's in it. Here are 8 key things to know, based on a summary of the proposal reviewed by the Post, AP, and New York Times, which calls the plan "far from final" and one that "tilt[s] the United States closer, but not entirely, toward the kind of tax system long championed by businesses." The aggressive goal is to get it passed in the House by Thanksgiving, with President Trump envisioning what the AP calls a "grand" signing ceremony before Christmas.

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