The Legislative Branch The legislative branch is the most powerful branch in government. The legislative branch is in charge of making and passing laws. They have the power to override a president’s decision, stop laws from being passed, and basically control all decisions the governments makes. The legislative branch, also called the congress, consists of the House of Representatives and the senate. The reason for two houses of congress is to balance out the concerns of smaller but more populated states against states that are larger but with less population (www.Usgovinfo.com).
The House of Representatives consists of 435 elected members that are divided among the fifty states in proportion to their population. There are also six
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Also, the general business credit would be extended to a five year carry-back. If the bill passes into a law, business owners would be able to write off the cost for their property immediately instead of over a long period of time. It would allow tax-payers to write off up to $500,000 in capital expenses. The bill would also allow tax-payers to expense up to $250,000 in doing improvements to their business, property, and are able to deduct the cost of health insurance for them and their families when they are calculating self-employment taxes.
However, there are a few downfalls with the bill. Penalties will increase if businesses fail to file timely information with the IRS. First time penalty for not filing tax returns would increase from fifteen dollars to thirty dollars, with a calendar year maximum of $250,000. Second time penalties would increase from thirty dollars to sixty dollars, with a calendar year maximum of $500,000. A third time penalty would rise from fifty dollars to one hundred dollars with a calendar year maximum of $1.5 million dollars. If the penalty because the person intentionally disregarded to file them, the minimum penalty is two hundred and fifty dollars.
Overall, the bill would greatly help out businesses. The bill already currently has the support of one hundred and eighty seven business and trade groups. Congress has this power to control how much the bank gives and the penalties that