Posted on 11/08/2017 7:28:05 PM PST by Mariner
As they prepare to unveil their own sweeping tax plan, Senate Republicans are revisiting key provisions of the GOP House proposal, including possibly eliminating property tax deductions as well as state income tax deductions, increasing the size of child-care credits, offering more help to small businesses and having corporate tax cuts phase in or expire, according to those familiar with the negotiations.
The final outline of the Senate plan, scheduled to be released Thursday, remained a work in progress, officials cautioned.
“Everything is on the table,” said one Republican official Tuesday evening, who did not want to be identified discussing the talks.
House and Senate Republicans agreed on an early framework for the tax overhaul — lowering corporate rates to 20% and consolidating individual brackets.
But as House Republicans push ahead with a vote next week on their bill, Senate Republicans are constrained by Senate rules that require their package not increase the federal deficit by more than $1.5 trillion over a decade.
Core to the Senate’s dilemma is how to make the corporate tax rates immediate and permanent — as President Trump wants — which has left them searching for revenue streams so they don’t add to the deficit.
They are considering various options: Fully repealing state and local tax deductions that are important to California and other high-tax states, including property taxes; adjusting individual tax brackets so higher-income households that earn less than $1 million fall in the top 39.6% rate; retaining some type of estate tax; or repealing parts of Obamacare.
(Excerpt) Read more at latimes.com ...
I don’t disagree with you at all.
but that leaves us with fewer people than we have fingers to count.
we have a long uphill battle my friend.
“Senate WILL find a way to make sure this doesn’t pass.”
Let’s hope it does not.
It’s a full-on piece of sh!t.
And they wwonder why democrats swept yesterday while Republican voter turnout was low? The GOP is a bad joke.
They refuse to cut spending.
This bill isn’t going to be passed, anyway.
Might as well swing for the fences and maybe
lock in a few votes for the next primary.
Ah, but who are we kidding? Trump served them
up a pork busting budget and they shrugged it
off like an overcoat with Armor All.
H.L. Mencken got it right. If voting had any effect
they wouldn’t let us do it.
It is no wonder that the US has problems.
The Democrats and Republicans are just two cheeks on the same a$$.
They should also do something about student loans and take it away as an issue next year...
“Trump served them
up a pork busting budget and they shrugged it
off like an overcoat with Armor All.”
Trump is not done with them.
When he returns to US, hell’s coming with him.
I would not want to be a Republican in Congress when he lets loose.
This isn’t a tax cut - it’s a deduction cut. The problem with reducing and cutting reductions is that people will get used to it and, then, the politicians will raise the tax rates again.
“then, the politicians will raise the tax rates again”
The House has already adjusted their CPI formulas so that more people will come under the higher rates sooner as inflation occurs. Much sooner.
This is beginning to sound more and more like a break-even at best for the middle class TAXPAYERS. Seems all the breaks are for the breeders. I don’t want tax reductions for others where I don’t get any breaks. Republicans are just as useless as democrats.
That would take balls and a spine.
They’ve got neither.
Many, many of us will pay MORE.
All the RINO dumbasses in congress had to do was fund and build a beautiful wall on the southern border. We’d have forgiven or tolerated their infighting in other areas. For less than $20B spread over 4 years they could have bought themselves political cover. They truly are stupid as sh**.
Political suicide , these politicians are delusional creeps
ping
12 for FICA income, 25 for other income above that, 15 percent corporate and pass-through, eliminate nearly all deductions and creidt, 12% on all capital gains and dividends, including real estate. But of course, that might call for actual reductions in spending, and we wouldn’t want that, right? /sarc
And take taxes out of welfare checks. Obama phones and all welfare should be taxed as income. 3-5%!is better than nothing. If they don’t like it, get off welfare.
“They truly are stupid as sh**.”
Post of the week right there.
I don’t care who you are:)
I didn’t vote for Trump to pay more. I would much rather see those on welfare getting less.
“And take taxes out of welfare checks.”
Social Security is taxed as income, why not welfare?
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