AUSTIN - This week will be a busy one on Capitol Hill as the Senate and House work on dueling Republican tax plans. Democrats say both are bad for middle-class Americans.
The GOP House tax plan cuts the number of tax brackets from seven to four. The standard deduction will roughly double, which means more money for middle-class families and the child tax credit will increase from $1,000 to $1,600.
It also repeals the estate tax and slashes corporate taxes from 35-percent to 20-percent.To fund those cuts, some common deductions were removed such as the student loan interest deduction and the medical expenses deduction.
In Texas This Week, we talk with Austin Congressman Lloyd Doggett (D) about the House tax plan and how it could impact Texans.
Watch part two below:
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