tax plan

Republicans in Congress are promising that their tax bill will create jobs. One place where we know it's going to create a lot of work is at the IRS.

That agency will have to figure out how to interpret and implement the hundreds of pages of changes to the tax code that were just passed, at a time when it is already struggling with budget cuts and staff reductions.

The Trump administration says it's already working with the IRS to update tax forms and withholding tables, promising that most taxpayers will notice a difference in their pay stubs by February.

National Public Radio

Republicans in Congress had a major victory Tuesday, passing the president's tax program. Democrats were unable to block the bill before it went to the Senate. However, the bill will go back to the House for a second vote Wednesday because of changes mandated by arcane Senate rules, but it is expected to make it to the president's desk.

Local developers have been watching Washington carefully, as Republicans in the two houses put together their tax bill, with potentially devastating effects on local development.

Updated on Dec. 20 at 3:50 p.m. ET

The Republican tax bill, which Congress sent to President Trump on Wednesday, would give most Americans a tax cut next year, according to a new analysis. However, it would by far benefit the richest Americans the most. Meanwhile, many lower- and middle-class Americans would have higher taxes a decade from now ... unless a future Congress extends the cuts.

WBFO News / WBFO

State Comptroller Thomas DiNapoli has weighed in on the Republican's proposed tax plan that is before Congress.