BALTIMORE (WJZ)— With the Senate expected to vote on the tax bill this week, a roundtable discussion will be held to discuss the effects it could have for people in Maryland.
U.S. Senator Ben Cardin will join business and community leaders for a roundtable discussion on the bill going through congress. The Democrat is a member of the Senate Finance Comittee and will speak about the massive increase in the budget deficit that will result from the bill as well as many programs that could be cut.
The tax plan lowers tax rates for most Americans through 2025 and nearly doubles the standard deductions for individuals and married couples. A family earning $75,000 would see its marginal rate fall from 15 to 12 percent. But Democrats say most of the personal tax cuts would expire by 2025.
The tax plan also cuts the corporate tax rate from 35 percent to 21 percent. President Trump is hoping this will bring companies back to the U.S..
The discussion will take place inside the Greater Baltimore Committee on 111 S. Calvert St. at 10 a.m..