Senate passes tax plan

The Senate, as expected, and by strict party lines, passed the tax reform bill that gives President Trump the first real legislative win of his Presidency.  It's a bill Texas Senator John Cornyn is pleased with.

“We weren’t willing to settle for the status quo because we believe America can do better,” Cornyn said.

Attorney and CPA Austin Carlson says everyone will benefit.

“The vast majority of people are going to see a tax decrease. The reason for that is the tax rates in general have moved down some,” Carlson explained, adding business owners get a break, too.

“You are also going to see a tax increase, which may be more significant,” Carlson said. The bill would cut the corporate tax rate from 35% to 21%

The House has the last vote on the bill after the Senate had to fix some procedural issues. Woodlands Congressman Kevin Brady says this bill is a big Christmas present for you.

“This is a game changer, for families, businesses, and certainly, for America,” Brady stated, explaining that you'll see more growth and opportunity because of this legislation.

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