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How Will New Tax Plan Affect Texans?

It's a big day for congressional Republicans taking the final steps toward making their tax plan the law.

The $1.5-trillion tax cut plan is the first major overhaul of U.S. tax laws in more than 30 years 

Despite being the first legislative win for the GOP-controlled Congress under the Trump administration, the bill's popularity has been dropping. 

A CNN poll released Tuesday found 55 percent of Americans oppose the plan, up ten points since a November survey.

And two-thirds, said the bill does more to help the wealthy than the middle class.  

Only a third are in favor of it. 

House Speaker Paul Ryan said that's just punditry and politics.

The bill will not affect the 2017 taxes that Americans will begin filing in January. 

It would begin with the tax returns filed after 2018.

One question many Texans are wondering is how will this bill affect us?

Representative Mac Thornberry voted yes to the bill, but did acknowledge that it has it's flaws.

He released a statement that said, "The tax reform bill is a great step forward for our economy and our country. Although the bill is not perfect, it is our chance to lower taxes, boost the economy, and bring jobs back to America...

Our DC Bureau sat down with Senator John Cornyn about the bill passing the house and he too was happy with what this could mean for Texans.

Sen. John Cornyn (Texas-R) said, "I'm very proud of what we we've been able to come up with, because I think hardworking American families, Texas families will see a significant benefit and we'll get our economy growing again and I think restore the American dream."

Senator Cornyn recently tweeted,

Even if the bill gets to the president's desk tomorrow, it's unclear when President Trump would actually sign the bill.

It could be next week or early next year.


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