| How will the new tax plan affect you? |
| 401(k) and IRA retirement plan benefits will remain the same under a tax proposal announced Thursday by House Republicans. (PSA: If you aren't saving for retirement , get on it.) The tax plan would affect Americans across the board, with big changes for certain tax deductions and the elimination of others. Congressional Republicans are on an aggressive schedule to have the legislation ready for President Trump to sign by Christmas. Here's a look at the plan's broad strokes: |
| • | Reduces the current seven tax brackets for individuals to four: 12%, 25%, 35% and 39.6%. | | • | Eliminates deductions for state and local income taxes, casualty losses and medical expenses. | | • | Scraps the personal exemption ($4,050 for each taxpayer). In exchange, roughly doubles the standard deduction to $12,000 for individuals and $24,000 for married couples. | | • | Changes two key housing write-offs — mortgage interest and property taxes — for some people. More on that here. | | • | Expands the child tax credit to $1,600 from $1,000. Also provides a $300 credit for each parent and non-child dependent. | | • | Cuts the top corporate tax rate immediately to 20% from 35%. | | • | Doubles the estate tax exemption to about $10 million and phases it out over six years. | |
| Scientists uncover Great Pyramid's 2,500-year-old secret |
| A previously unknown "void" was recently identified deep within the Great Pyramid of Giza, according to research published Thursday in the journal Nature. The discovery was made using cosmic-ray imaging, which can distinguish stone from cavities, revealing new information about ancient structures. While no one knows the role of this void, the study said, it's the first major structure found inside the Great Pyramid since the 19th century. The pyramid is the only one of the original seven wonders of the ancient world still standing. |
| Trump wants NYC truck attack suspect executed |
| President Trump wants the death penalty for Sayfullo Saipov , 29, the suspect charged in the New York City truck attack that killed eight people and injured a dozen others. Such tough talk from the tweeter-in-chief could make for a tricky trial. Numerous legal analysts said Trump should not be pre-judging the outcome, and defense lawyers would likely claim the comments make it harder to get a fair trial. Trump's first tweet came after a criminal complaint said the suspect told investigators he "felt good" about the attack and asked to display Islamic State flags in his hospital room. |
| Suspect nabbed 12 hours after deadly Walmart shooting |
| A lone gunman identified by police as Scott Ostrem, 47, walked "nonchalantly" into the Walmart in Thornton, Colo., and opened fire on people near the cash registers. Three people died. Ostrem was taken into custody Thursday morning, more than 12 hours after the shooting. "This is a very heinous act," and police are still looking for a motive, Thornton police spokesman Victor Avila said. |
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| These are more than a few of Oprah's favorite things |
| Oprah Winfrey's annual favorites list is out, and it's her longest ever — at 102 gift recommendations. Prices range from free (podcast downloads!) to $2,000 for a TV that morphs into a painting. On the food front, her picks include a meal for four from Katz's Deli in New York, 5 pounds of blueberries from a farm in Maine (that happens to be owned by Saturday Night Live creator Lorne Michaels) and a $285 bottle of tequila. Oprah also recommends a "gratitude glass jar" that lets families drop in notes about things they truly appreciate. While we're thankful for O's carefully vetted suggestions, for $45, we might just make our own gratitude jar. |
| This is a compilation of stories from across USA TODAY. |
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