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Top Story Quiz
Quiz: House Republicans Release Tax Plan
Top Story Quiz Archive
House Republicans took a big step to overhaul the U.S. code on Thursday by releasing a massive tax bill. How closely have you been following the story?
1. What is the name of the GOP tax bill that was released on Thursday?
Tax Reform Act
Tax Cuts and Jobs Act
Cut Cut Cut Act
Tax Overhaul Act
2. Who is the author of the tax bill?
Paul Ryan
Kevin McCarthy
Kevin Brady
Jeb Hensarling
3. What is the current highest income tax rate for individuals?
39.6%
46.2%
29.8%
61.1%
4. The proposed tax bill would cut the current number of tax brackets from seven to how many?
Six
Five
Four
Three
5. In the new tax bill, the federal corporate income tax rate would drop to 20% permanently. What is the current federal corporate tax rate?
50%
45%
40%
35%
6. Which country would still have lower corporate income tax rates than the United States under the GOP tax plan?
Japan
Germany
France
United Kingdom
7. The new tax bill proposes that the estate tax be repealed over six years. What is the estate tax?
A tax on the transfer of the estate of a poor person
A tax on the transfer of the estate of a business owner
A tax on the transfer of the estate of a farmer
A tax on the transfer of the estate of a deceased person
8. In terms of votes, what does a bill need to pass the House of Representatives?
A two-thirds majority
A simple majority
A three-fourths majority
At least 200 votes
9. Under the proposed tax bill, what changes will be made to the treatment of 401k retirement savings plans?
Additional 2% tax
Additional 10% tax
Reduced tax of 20%
No change
10. How does the new tax plan propose to change the standard deduction?
Double it
Cut it in half
Remove it entirely
No change
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