Top Story Quiz
Quiz: House Republicans Release Tax Plan
House Republicans took a big step to overhaul the U.S. code on Thursday by releasing a massive tax bill. How closely have you been following the story?
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1. What is the name of the GOP tax bill that was released on Thursday?
2. Who is the author of the tax bill?
3. What is the current highest income tax rate for individuals?
4. The proposed tax bill would cut the current number of tax brackets from seven to how many?
5. In the new tax bill, the federal corporate income tax rate would drop to 20% permanently. What is the current federal corporate tax rate?
6. Which country would still have lower corporate income tax rates than the United States under the GOP tax plan?
7. The new tax bill proposes that the estate tax be repealed over six years. What is the estate tax?
8. In terms of votes, what does a bill need to pass the House of Representatives?
9. Under the proposed tax bill, what changes will be made to the treatment of 401k retirement savings plans?
10. How does the new tax plan propose to change the standard deduction?