Top Republicans in the U.S. said that the law on the tax reform should be finally adopted next week. The Senate vote is scheduled for Tuesday, and President Donald trump expects to sign it by Friday.
Republican Senator John kornyn, said in an interview with ABC that he is «confident» that the Senate will pass a law and it will happen «probably on Tuesday».
If the law actually is passed, it will be the beginning of the most ambitious tax reform in the U.S. since 1986 . For Donald trump’s adoption of the law will mark the first major legislative victory on a post of the President.
However, predictions about the entry into force of the new law continues to give concern. The opponents of reform do not cease to pay attention to tests and numbers, stating that the new law will add at least 1 trillion dollars to the national debt of the United States in the next 10 years, even taking into account economic growth, a stimulus for which he may become.
Recall that according to the bill, «the main pillars» of tax reform is reducing corporate tax rate from 35% to 21%. At the same time, the tax burden on foreign companies operating in the U.S., will increase.
If the law is passed, it will take effect in 2018, so the changes will be felt very soon, say the Republicans.
