Posted on 11/30/2017 10:33:53 AM PST by GIdget2004
Sen. Bob Corker (R-Tenn.), a key holdout on the Republican tax bill, says a proposal to establish a trigger pulling back tax cuts in case economic projects fall short hasn’t been resolved.
The lack of an agreement puts the votes of Corker and at least two other deficit hawks, Sens. Jeff Flake (R-Ariz.) and James Lankford (R-Okla.), in jeopardy.
Asked if there was agreement on the trigger, Corker replied, “no.”
“An offer has been made and we’re dealing with it and other issues,” Corker said.
The proposal under discussion would rollback tax relief and raise about $350 billion over 10 years in case the GOP’s $1.5 trillion tax bill fails to spur as much economic growth as projected.
Corker declined to say how specifically the proposed trigger would raise revenues.
“It’s a basket of issues,” he said.
Senate Republican negotiators are looking at a trigger that would roll back tax relief instead of cutting spending, in part because of procedural rules that limit what can be in the bill.
"It would have to be tax to be germane," said Sen. James Lankford (R-Okla.), who is working with Corker to implement the safeguard.
An array of conservative groups, such as Club for Growth and Americans for Tax Reform, have come out strongly against the idea of a trigger.
(Excerpt) Read more at thehill.com ...
Lil’ Corker and Flake(y) members of the congressional hush-slush fund?
HOW ABOUT A ‘CUT SPENDING’ TRIGGER???
IMPLEMENT THE PENNY PLAN NOW!
EVERY SINGLE AGENCY CAN HANDLE A 1% CUT.
DO IT EVERY YEAR UNTIL THE BUDGET IS BALANCED AND WE START PAYING DOWN THE DEBT.
This swamp focused interest in tax reform aka deficit increase rather than THE WALL and kill Obamacare has been horrible from day 1.
Rid us of RINOs.
Baked in automatic tax increases. Nice. This bill gets worse all the time.
Congress absolutely hates lowering taxes on individuals.
Debt trigger? LOL
The double the National Debt in eight years under Obama and I never heard the term “debt trigger” the whole damn time.
Lankford is a nobody first term Senator. He better be careful pushing so hard for a tax increase.
I am absolutely opposed to the new tax bill as it will raise MY taxes by several thousand dollars per year.
However, the idea of an automatic, triggered tax hike “just in case” is clearly some of the stupidest sh!t I ever heard come from a Republican.
And everyone know Republicans are at least as stupid as Democrats, but far less transparent about it.
Maybe I’ll luck out and this poison pill will kill the bill.
“First, we will pretend to lower your taxes”
“Second, we will in fact raise your taxes”
Guys, understand something. There is no debt. There is no spending. There is no tax revenue.
When the Fed can QE 23% of GDP over 5 years, what possible further meaning can money have?
And no, this is not about gold or a gold standard. That’s all silliness too.
The only point is Conservatism can have no meaning if it is focused on money flow, because money itself no longer has meaning. The ECB this very moment is creating a trillion Euros for this year from thin air with a wave of the hand. Just like the Fed did over the past 7 or so.
We have to pretend, yes, because that’s how you buy food. But always keep in mind that money as a substance doesn’t reflect GDP, Gold, weapons or anything else. It is created by whim by a bunch of central bankers.
So don’t imagine any moral truths or political ideology is are in any way profound as regards anything to do with it.
Just so the trigger would automatically trigger a cut in government spending in TN and AZ.
Beat me to it.
These two will vote against it giving McCain and out.
Penny plan please. Dumbassery going on.
“...Maybe I’ll luck out and this poison pill will kill the bill.”
*************************************
I’m not sure if the “poison pill” is even in the bill yet.
I said it first on a different thread...2% cut for every agency/department budget (military excepted).
A trigger means that none of the benefits we could expect from this bill would materialize. Companies and individuals would expect the trigger to be triggered and not invest to the extent they otherwise would. This is a self fulfulling mechanism. Government is full of idiots.
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