Key Senators Agree On A Road To Cutting Taxes This Year

Published Friday, September 22, 2017 at: 7:00 AM EDT

Two key Senate Republicans reached an agreement on the framework of a major tax cut that reportedly will save taxpayers $1.5 trillion over 10 years. Senators Bob Corker (R-Tenn.) and Pat Toomey (R-Pa.), members of the Senate Budget Committee, released a statement saying they agreed on a path toward tax cuts. Sen. Toomey has favored tax cuts but Sen. Corker had previously opposed any tax cuts that would add to the country's $20 trillion of debt. In backing off that stance, Sen. Corker opened the path for the Senate to pass a tax-reduction bill, but Senate passage would be only...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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