Posted on 11/30/2017 10:58:48 AM PST by Mariner
WASHINGTON - Conservative groups and lawmakers are lining up against a proposal by Senate Republicans to impose automatic tax increases on millions of Americans if their sweeping tax package doesn't grow the economy and raise tax revenues as much as projected.
The opposition comes as the tax package cleared a key procedural vote in the Senate on Wednesday. The Senate voted 52-48 to start debating the bill. Wednesday's vote potentially could pave the way for the Senate to pass the package later this week. The Senate could start voting on amendments Thursday evening.
Opposition to the tax "trigger" could doom a delicately negotiated proposal aimed at mollifying deficit hawks who worry that tax cuts for businesses and individuals could add trillions to the mounting national debt.
Tucking a potential tax increase into the tax cut bill isn't sitting well with conservatives.
"Automatic tax increases are a special level of insanity," said Rep. Trent Franks, R-Ariz. "I don't think it survives."
Rep. Jeb Hensarling, R-Texas, called the proposal "a uniquely bad idea," especially if revenues fall short because of an unforeseen slowdown in the economy.
(Excerpt) Read more at sacbee.com ...
Pimples on hog butts would be more useful than those two.
“Sounds like some people need an Intro to Econ class”
The only econ book the Political Class has any interest in is Das Kapital.
Cut the stuff that you have no authority vested to you by the Constitution. That will drastically reduce the hemorrhaging, and probably create a surplus that can actually reduce the debt, while still allowing more Americans to keep what they earned.
OH OH sounds like our taxes ae going way up, then. Gotta love this beautiful huge tax cut sort of like “... you can keep you doctor” ... swamp gets deeper.
I heard on MSNBC that they said that now Ryan wants to go to conference. I know thats against with the White House wants. They are mightily afraid it will get bogged down in conference. I dont know if Ryan is actually going to have some gonads and stand up to them, or whats going on. But even if it goes the conference, its a crappy bill for me. Theres no way to fix it.
I respectfully disagree. This bill is a piece of garbage. It is a poison pill to millions of us in the middle class. It destroys almost every tax deduction we have - forever. The tax increases, however, will always be with us.
The democrat party will be making commercials that the republicans are raising taxes and spending.
They will be correct.
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