On Dec. 20, Congress passed the “Tax Cuts and Jobs Act” or better known as the 2017 Tax Bill that is estimated to increase the nation’s debt by 1.5 trillion dollars ($1,500,000,000,000).
Some of the consequences of this act are that telecommunications companies and the nation’s largest banks will receive anticipated windfall profits backed with the borrowed money that we taxpayers are liable for. A few of the examples that have been reported are that AT&T, for one, will pay a $1,000 bonus to 200,000 of its employees ($200,000,000). Comcast will pay a $1,000 bonus to 100,000 employees ($100,000,000) and Bancorp will pay a $1,000 bonus to 13,500 employees ($13,500,000), just to name a few.
We residents of Virginia’s 1st Congressional District had little voice in this action when it occurred; however, when the November 2018 election occurs, you can support our representative who cast his vote to pass the tax bill (Rob Wit...
To view the rest of this article, you must log in. If you do not have an account with us, please subscribe here.