Posted on 10/26/2017 8:16:37 AM PDT by davikkm
Republican lawmakers passed a budget today in the US House in a very close vote.
https://twitter.com/HouseGOP/status/923553579834556417
(Excerpt) Read more at thegatewaypundit.com ...
Sorry, buy you are mistaken about what was voted on.
This “budget” framework doesn’t include amnesty or anything to do with DACA. It is traditionally a party line vote.
The issue of DACA will come up later.
Correct. This “budget” needed to pass so that tax reform could be considered down the road.
A budget is necessary to pass tax reform in the Senate with 51 votes instead of 60.
He won't.
What would happen if the earth leaves it's orbit and crashes into the sun?
It won't.
According to the WSJ:
“Eleven of the 20 Republican no votes came from representatives of the high-tax states of New York and New Jersey, who defected because of the party’s plan to limit or repeal the deduction for state and local taxes.”
Currently, the state/local deductions is OUT. But this budget doesn’t decide anything. Tax reform voting is still to come.
Sorry, to NY/NJ Reps, but the state/local tax deduction needs to go. The high tax states are mostly Blue. The deduction subsidizes high state & local taxes. Getting rid of the deduction will put pressure on these states to LOWER their taxes. About time...
As of today, I am against the legislation as it currently stands. When the the local landscaping contractor here in North Jersey gets hit with a income tax increase so Larry Kudlow and Steve Moore’s buddies get huge decreases, count me out. If everybody gets a decrease, count me in.
Just to note:
“The nonbinding budget resolution doesn’t need to be signed by President Donald Trump, and is separate from spending bills that actually fund the government.”
Spending bills are still to come.
What universe do you live in?
The local landscaping contractor in NJ needs to contact his state reps in the legislature and demand lower state and local tax rates.
That is the solution; voters in high tax “blue” states demanding tax cuts.
In a universe that is Just and Right.
Unfortunately for us, we in NJ do not get the choice to live in those unincorporated areas the rest of you get to that pay virtually no property taxes.
Since the left generally looks at deductions which lower taxes as "subsidies" why should I subsidize high tax rates in cities and states where they live?
What he will probably do is figure he might just as well vote for the Democrats. If you are going to get your taxes increased by the GOP you voted for all these years, you might as well vote for the Dems to get some goodies out of it.
WSJ: “So far, party leaders haven’t been able to reach a compromise that would continue some federal tax break for local property taxes. New York and New Jersey lawmakers went to the leadership’s offices for a meeting on the issue right after the vote and emerged without an agreement.
“I voted no because we don’t have a deal yet,” said Rep. Tom MacArthur (R., N.J.). “We’re seven or eight innings into this, and we don’t have a deal yet.”
Rep. Kevin Brady (R., Texas), the Ways and Means chairman, said he is exploring options offered by the budget’s opponents. Those include a credit for homeownership that could include property taxes and mortgage interest.”
I'm good with a credit for these items.
The devil will be in the details. As of now, for me, it stinks. If they work something out that doesn’t hurt middle class folk, I’m onboard. If not, then it stinks.
...
LoBiondo
MaCarthur
Massie
Sanford
Smith
Stefanik
Tenney
Zeldin
Which Smith? Not mine, I hope!
Provided the taxpaying residents of those states outnumber those who owe little or nothing and prevail upon their legislatures to get it done.
My friend, remember this posting from last month:
“What universe do you live in?”
Suggest reading this article: https://www.msn.com/en-us/news/us/us-towns-cities-fear-taxpayer-revolt-if-republicans-kill-deduction/ar-BBF3ZMo?li=BBmkt5R&ocid=spartanntp
The article states: “Given the past difficulty Pataskala has had convincing taxpayers to approve new taxes, he said, eliminating or paring back the SALT deduction might trigger demands for chopping local taxes and blow a huge hole in his budget.”
It adds credence to what I was saying: “Getting rid of the deduction will put pressure on these states to LOWER their taxes.”
The universe is looking just fine.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.