Good news if you’re a rich, jobless heir; bad news if you’re a middle-scale earner: the U.S. House of Representatives just passed the sweeping tax code rewrite that was pushed very hard by President Trump. The proposed bill would slash $1.5 trillion, of which $1 trillion will benefit corporations and businesses.
This is just one hurdle, of course. The Senate needs to pass its own version of the bill and then a final draft must be passed by both legislatures. All the same, this is a huge win for Trump and the Republican party.
You can read Fast Company writer Ben Schiller’s analysis of the bill here.