Posted on 12/01/2017 7:56:29 AM PST by GonzoII
Senate Republicans were confident that they had the votes needed Friday to pass their tax plan as last-minute changes brought more GOP lawmakers on board.
Sens. Steve Daines, R-Mont., and Ron Johnson, R-Wis., earlier Friday said they would back the bill after securing further tax relief for pass-through businesses. Then, Sen. James Lankford, R-Okla., committed to supporting the plan, leaving Republican leaders confident that they had the support.
On Friday morning, Senate Majority Whip John Cornyn, R-Texas, called holdout Sens. Bob Corker, R-Tenn., and Jeff Flake, R-Ariz., the last two senators who need to get on board. The GOP can pass the legislation even if both senators oppose it over budget deficit concerns.
(Excerpt) Read more at cnbc.com ...
Seems a good percentage of us don’t and won’t have representation. I donate to, and vote for Republicans and get a tax increase or I don’t vote and Democrats raise my taxes.
They should keep their confidence quiet until it’s done. Once they go public, McCain takes it as a challenge and knows he’ll get even more of Chuckie’s approval when he stops it.
Wait, is McCain on board? Color me stunned.
Not sure the track, but some one here said there will be no conference - bill will go to house to be voted on as is - sounds like whatever was in the house bill is mute. Senate bill rules over house? Have our masters spoken?
Have you read the bill or you just have second hand information from the Fake News crowd?
Good, the puke from OK backed down. Now they can ignore Liddle Corker and Flake(y). No trigger, give them nothing!
Just more theater. That probably was Lankford’s plan all along. He doesn’t really have the gravitas to pull off sinking this bill and it doesn’t fit his MO. And of course Trump got like 90% of the vote in OK. No way a Senator from there sinks this bill.
McCain said yesterday that he has concerns about the tax bill but will vote for it anyway.
I am stunned as well.
There are good things in it and there are plenty of bad things as well.
Expecting real reform from this Congress is a pipe dream.
The good news is that Corker and Flake are not running again and McNutz will be dead soon.
The Constitution says it should originate in the House.
It also said the Kenyanesian Usurper could not be President.
“...they would back the bill after securing further tax relief for pass-through businesses...”
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I’m having difficulty following this.
Let’s see, “regular” corporations will have their income taxed at 20%. When those “regular” corporations pay dividends to their shareholders that dividend income will AGAIN be taxed at the personal income tax rates (up to 39%). So the dividend income to owners of “regular” corporations is, in essence, TAXED TWICE — with the 2nd tax bite of that apple being up to 39%.
But “pass-through” businesses will have their income ONLY TAXED ONCE and the net effect of the legislation is that the “personal income” from “pass-through entities” will taxed at a rate below 30% max. If that understanding is correct, high income earners from professional entities such as law firm partners are going to make out like bandits compared to individuals who get their income as “employees”. I’m not sure I like such preferential treatment.
I will point out that that was yesterday. Changes made overnight might give him an excuse to vote no and stick it to Trump once again.
McCain can’t stand Trump.
His support for this garbage bill ought to give everyone reason to pause.
McCain is in a position to benefit from the repeal of the death tax.
The House said they will accept the Senate Bill and they’ll vote on it. This is what usually happens. Nothing new.
Why was there a death tax in the first place?? The money has been taxed and taxed over time.
Since when has the Uni-Party cared about the deficit?
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Oh, it was so sickening to hear the RATS go on about the deficit last night, when it meant NOTHING to them all the time Obama was in charge.
I don't trust McCain at all. Didn't he wait until the last minute to vote against another huge bill which caused it to fail? His hatred for Trump knows no bounds.
Thanks, I think that’s what I heard too...re the house. Tried to see what I could find out about the senate version of the bill. Could be better could be worse, I had thought the child credit was going away and it hasn’t so that is good for us, also getting rid of the AMT is good but not sure how that will offset the loss of the personal deduction. We don’t live in a high tax state, so we don’t deduct anything on that anyway... will just have to see how the math works out. I also read that this would not go into effect until 2019... wonder if Collins will go along?
On Friday morning, Senate Majority Whip John Cornyn, R-Texas, called holdout Sens. Bob Corker, R-Tenn., and Jeff Flake, R-Ariz., the last two senators who need to get on board. The GOP can pass the legislation even if both senators oppose it over budget deficit concerns.
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