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Top GOP senator says election losses could complicate tax reform
The Washington Post ^ | November 8th, 2017 | By Mike DeBonis

Posted on 11/08/2017 10:50:51 AM PST by Mariner

Republican leaders seeking to overhaul the federal tax code faced new challenges Wednesday, including a new $74 billion hole in the House’s plan and a drubbing in Tuesday’s state and local elections that will be on members’ minds as they prepare for difficult tax votes.

Democrats won gubernatorial races in New Jersey and Virginia on Tuesday and also stood on the cusp of winning control of the Virginia House of Delegates — a setback that many are calling a wake-up call to the GOP.

But top Republican tax writers split Wednesday over whether that would make it harder for them to advance their tax bill.

Senate Finance Committee Chairman Orrin G. Hatch (R-Utah) said the losses could shape the tax bill going forward.

“I mean, it could, because the elections went against the Republicans,” Hatch said in a brief morning interview.

Asked whether he is feeling pressure to tilt the tax plan’s benefits more toward the middle class, Hatch said, “I think we’ve been moving that way anyway.”

----br----

The initial version of the House tax bill delivered only 21 percent of its benefits to individuals, including the middle class, according to an analysis by the nonpartisan Joint Committee on Taxation. Four-fifths of the bill’s aggregate tax cut benefited corporations and business owners with family earnings of more than $260,000 a year, as well as wealthy individuals who would no longer be subject to the federal estate tax.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Constitution/Conservatism; News/Current Events; Politics/Elections; US: New Jersey; US: Virginia
KEYWORDS: 115th; nj2017; trumptaxcuts; va2017
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To: Mariner

The one thing they will pass is Amnesty, and that will be it for me.


41 posted on 11/08/2017 12:10:32 PM PST by heights
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To: Mariner

When the Dims control Congress they come at you like a 900 pound juggernaut, taking no prisoners and making no compromises. When the Repukes are in charge, things grind to a halt and it seems as though the Dims are in charge behind the scenes.


42 posted on 11/08/2017 12:23:28 PM PST by SharpRightTurn (Chuck Schumer--giving pond scum everywhere a bad name.)
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To: Mariner

Frankly, no one cares about this ‘tax reform’, we want the Wall.


43 posted on 11/08/2017 12:35:50 PM PST by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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To: Scott from the Left Coast

Indeed.


44 posted on 11/08/2017 12:47:04 PM PST by arthurus
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To: SoFloFreeper

Defeat all the old “RINOs” and elect all new “RINOs.” The new blood will have talked a good game but will cave the same as the incumbents. It is a matter of which side of the bread the butter is on.


45 posted on 11/08/2017 12:49:48 PM PST by arthurus
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