Rep. Blackburn Says GOP Tax Bill May Keep SALT Deduction

Rep. Blackburn Says GOP Tax Bill May Keep SALT Deduction

Assessment

Interactive Video

Business, Social Studies, Other

University

Hard

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The transcript discusses the upcoming tax reform, highlighting its benefits such as lower marginal rates and a simpler tax system. It mentions bipartisan support and the committee's role in advancing the reform. The discussion also covers potential funding strategies, including changes to state and local tax deductions and 401K implications. The conclusion emphasizes the urgency of tax relief and the need for government efficiency.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the main goals of the upcoming tax reform bill?

To raise taxes on businesses

To make the tax system flatter, fairer, and simpler

To eliminate all tax deductions

To increase the number of tax brackets

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one potential change mentioned regarding state and local tax deductions?

No changes to the deduction

Doubling the deduction

Introduction of a cap on the deduction

Complete elimination of the deduction

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many tax brackets are expected in the new tax reform?

Four

Three

Two

Five

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the concern regarding 401K's in the tax reform discussion?

Contributions will be taxed upfront

They will have higher contribution limits

They will be eliminated

They will be merged with other retirement plans

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the public's stance on the tax reform according to the discussion?

They oppose any changes

They demand quick action for tax relief

They want it delayed

They are indifferent