Tax Bill Passes Senate
The Senate passed a tax bill in a late night session and that bill has far reaching implications that could affect how you pay for college and the future of Obamacare.
The bill would overhaul how the US tax code works and favors corporations as opposed to individuals. This is based on a conservative tax movement from the 80's called "trickle down economics." It theorizes that if you let corporations make more money, they will then hire more workers and create more jobs. Senate Democrats say the bill passes an undue burden onto the middle class and will cause the US deficit to rise.
The next step is Congress. The House can either pass the Senate's bill as is or go to conference with the Senate to merge the bill with the legislation House Republicans recently. They hope to get the finished bill to President Trump's desk before the new year.
Read more here.
Flynn Pleads Guilty
Former Trump advisor and Head of National Security Michael Flynn pleaded guilty on Friday to lying to federal prosecutors investigating Russia’s influence on the 2016 elections. By pleading guilty, Flynn is expected to testify to possible involvement by other Trump transition team members. The plea puts tremendous pressure on the White House to come up with reasons why Trump advisors, including Jared Kushner and Jeff Sessions, had any contact with Russian officials.
Learn more here.
Coco Conquers Box Office
For the second weekend in a row, Pixar's Coco ruled the box office. Coco, inspired by the Mexican holiday Día de los Muertos, is the story of a boy named Miguel who is accidentally transported to the land of the dead where he seeks the help of his musician great-great-grandfather to return him to his family among the living.
Coco pushed passed the $100 million mark and set the Disney company up to have a stellar end of year, especially with the release of The Last Jedi coming on December 15th.
Check out other box office news here.