Bill O'Reilly: Top Story Quiz - Quiz: House Republicans Release Tax Plan

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 The new tax bill proposes that the estate tax be repealed over six years.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