{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='AP Reporter Breaks Down Tax Legislation' data-url='/boclips/videos/5c54d6b0d8eafeecae205960' data-video-url='/boclips/videos/5c54d6b0d8eafeecae205960' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAP Reporter Breaks Down Tax Legislation\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eAP Reporter Stephen Ohlemacher looks at the details of the tax legislation that's being pushed by President Donald Trump and considered by a conference of House and Senate lawmakers on Capitol Hill.               Congressional aides say...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eAP Reporter Stephen Ohlemacher looks at the details of the tax legislation that's being pushed by President Donald Trump and considered by a conference of House and Senate lawmakers on Capitol Hill. \u003cbr/\u003e              Congressional aides say negotiators have removed several controversial provisions from sweeping tax legislation, including one that would have eliminated the deduction for interest on student loans and another deduction for medical expenses.\u003cbr/\u003e              Two congressional aides also say the bill will no longer start taxing graduate-school tuition waivers. The aides spoke on condition of anonymity because they were not authorized to publicly discuss private negotiations.\u003cbr/\u003e              GOP leaders in the House and Senate have reached an agreement in principle on the biggest rewrite of the nation's tax laws in more than 30 years, though the legislation is still being finalized Wednesday.\u003cbr/\u003e              Advocacy groups have complained about the provisions that were removed, especially with college graduates face mounting debt from student loans.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              POOL\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              1. Various of House and Senate conferees sitting down for meeting on tax legislation\u003cbr/\u003e              ASSOCIATED PRESS\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              2. SOUNDBITE (English) Stephen Olemacher, AP Reporter \u003cbr/\u003e              \"It would provide steep tax cuts to corporations and wealthy Americans, and modest tax cuts to middle and low income families. Now, we haven't seen a full analysis of this final agreement, but what they've been working on is, the House passed a big tax bill, the Senate passed a big tax bill, and they've been working to blend the two. Previous analyses of each of these bills says they would add about a trillion dollars to the deficit over the next decade, when you take into account economic growth that might come from this. Overall, the package cuts taxes by about 1.5 trillion dollars.\"\u003cbr/\u003e              POOL\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              3. Various of conferees\u003cbr/\u003e              ASSOCIATED PRESS\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              4. SOUNDBITE (English) Stephen Olemacher, AP Reporter \u003cbr/\u003e              \"Some of the big provisions they have in there, they're going to lower the top tax rate for individuals from 39.6 percent to 37 percent. Currently, the top tax rate only applies to families making more than $470,000. So, this would help high income families. It would cut the corporate income tax rate from 35 percent to 21 percent, which would be a big savings for businesses.\"\u003cbr/\u003e              POOL \u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              5. Various of conferees\u003cbr/\u003e              ASSOCIATED PRESS\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              6. SOUNDBITE (English) Stephen Olemacher, AP Reporter \u003cbr/\u003e              \"Republicans have billed this as a big tax cut for the middle class. At least the analyses of the previous bills that they passed showed it would not be nearly as much for middle and low income families as it would be for wealthy folks. Now, one thing they have done for middle and low income families is that they're doubling, almost doubling the standard deduction, up to $24,000 for a married couple. That would allow a lot of families who might have itemized their deductions before to just take the standard deduction, and what they say is that you'd be able to fill out your taxes on a form the sized of postcard.\"\u003cbr/\u003e              7. Mid of President Trump and lawmakers at White House  \u003cbr/\u003e              8. SOUNDBITE (English) Stephen Olemacher, AP Reporter \u003cbr/\u003e              \"Democrats say this is a big giveaway to the wealthy and corporations. The president has pushed back on that, and so have Republicans in Congress.\"\u003cbr/\u003e              POOL \u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              9. Various of conferees\u003cbr/\u003e              ASSOCIATED PRESS\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              10. SOUNDBITE (English) Stephen Olemacher, AP Reporter \u003cbr/\u003e              \"First of all, they're complaining because they haven't been able to see the final details yet. Republican leaders say that will be unveiled by the end of the week.  Really, what they are complaining about is, look, this is not really geared toward the middle class, and this is mainly geared toward the wealthy and corporations. Republicans also worry that this is going to add to the budget deficit over the years. Now, Republicans have said they expect this bill to generate enough economic growth that lessen the impact, or even erase the impact on the budget deficit. Today, the Fed chairwoman, Janet Yellin came out and said she expects the tax package to have just a modest lift to the economy.\" \u003cbr/\u003e              11. Wide of Trump and key lawmakers at White House\u003cbr/\u003e              12. SOUNDBITE (English) Stephen Olemacher, AP Reporter \u003cbr/\u003e              \"If they are able to pass the tax bill next week, it won't affect it because the new congressman, Doug Jones, or new Senator Doug Jones from Alabama wouldn't take office until after that.\"\u003cbr/\u003e              POOL\u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              13. Various of conferees\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\" out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=1047470\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eAll Grades\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSource:\u003c/dt\u003e\n\u003cdd\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e2017\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='educator-ratings-heading' class='rp-info-section'\u003e\n\u003ch2 class='title sr-only' id='educator-ratings-heading'\u003eEducator Ratings\u003c/h2\u003e\n\u003cdiv id=\"educator-ratings-root\"\u003e\u003c/div\u003e\u003cdiv id=\"all-educator-ratings-root\"\u003e\u003c/div\u003e\u003cdiv id=\"educator-rating-form-root\"\u003e\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-resource'\u003e\n\u003cdiv aria-label='Show resource details' class='rp-show-info' role='button' tabindex='0'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\nShow resource details\n\u003c/div\u003e\n\u003cdiv aria-label='Video player' class='player' id='player-wrapper' role='region'\u003e\n\u003cdiv class='relative container mx-auto' id='lp-boclips-visitor-thumbnail'\u003e\n\u003ca class=\"block\" data-html=\"true\" data-placement=\"bottom\" data-trigger=\"click\" data-content=\"\u003cdiv class=\u0026quot;text-center py-2\u0026quot;\u003e\u003ca class=\u0026quot;bold\u0026quot; href=\u0026quot;/auth/users/sign_in\u0026quot;\u003eSign in\u003c/a\u003e or \u003ca class=\u0026quot;bold text-danger\u0026quot; data-posthog-event=\u0026quot;Signup: LP Signup Activity\u0026quot; data-posthog-location=\u0026quot;body_link_boclips\u0026quot; data-remote=\u0026quot;true\u0026quot; href=\u0026quot;/subscription/new\u0026quot;\u003eJoin Now\u003c/a\u003e\u003c/div\u003e\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: AP Reporter Breaks Down Tax Legislation\" href=\"/subscription/new\"\u003e\u003cimg class=\"resource-img img-thumbnail img-responsive z-10 lp-boclips-thumbnail w-full h-full lozad\" alt=\"AP Reporter Breaks Down Tax Legislation\" title=\"AP Reporter Breaks Down Tax Legislation\" onError=\"handleImageNotLoadedError(this)\" data-default-image=\"https://static.lp.lexp.cloud/images/attachment_defaults/resource/large/missing.png\" data-src=\"https://static.lp.lexp.cloud/images/attachment_defaults/resource/large/missing.png\" width=\"315\" height=\"220\" src=\"data:image/png;base64,R0lGODlhAQABAAD/ACwAAAAAAQABAAACADs\" /\u003e\n\u003cspan aria-hidden='true' class='flex justify-center items-center bg-white rounded-full w-16 h-16 absolute top-1/2 left-1/2 -mt-8 -ml-8 cursor-pointer z-0 border-2 border-primary drop-shadow-md lp-boclips-thumbnail-playBtn'\u003e\n\u003ci class='fa-solid fa-play text-primary text-3xl ml-1 drop-shadow-xl'\u003e\u003c/i\u003e\n\u003c/span\u003e\n\u003c/a\u003e\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n"}