Lots of Cantorizing to do.
Alexander, Corker, Flake, Graham, Hatch, Heller, Hoeven, Murkowsky, McCain, Rubio, Gardner, Burr, Tillis, Portman, McConnell, Thune, Cornyn, Cochran, Isackson, Blunt, Johnson, Toomey, Capito, Rounds, Fischer, Collins, Wicker, Sasse, Ernst, Lankford, Young, Boozman and Shelby are all undocumented Democrats in R jerseys.
Todays GOP is basically the Republican and Democrat party rolled into one.
The Democrat party is basically a lunatic asylum.
Tax Reform passes or the Stock Market has a historical crash. And Mr. Trump’s Presidency crashes with it.
This, no doubt, is what the GOP is hoping for.
Just for once I wish we could be stabbed in the front instead of stabbed in the back.
Bull. The House and Senate did work together.
They also wrote a script for the Kabuki play of it’s passage.
The script has the Senate as the heroes who save the day.
That’s what is so familiar about this.
I predict that just before Christmas Mitch will come out with a shrug and say well we tried but we just ran out of time. They have no intention of tax reform.
We need another Boston Tea Party. These bastards are willfully ignoring the will of the people.
Time to shut it down!
My family would pay 25% less of annual income in taxes, according to two online calculators.
Of course they are - they’d rather keep the status quo even if it means ruining their Party because they are all Dems at heart and know they have a welcoming committee for when they actually make the jump to be on the oppressors’ side....
They are just BEGGING for another Civil war.
President Trump is showing the Republican party how to win but individual Republican egos will not allow them to join the president and work for the American people.
Too sad and what a missed opportunity.
We’re effectively down to 51, with Rand on the disabled list for a while.
There will be no tax cuts with this Congress. We need more conservatives. And we need to get rid of Ryan and McConnell.
It’s not that they don’t work together, it’s that they do and the target is the Trump agenda. Hasn’t that been clear from day one? Folks, tax reform isn’t happening, the only question is who is going to be the Senator to kill it? John McCain, Lisa M and Collins because it’s not bi-partisan or Rand Paul, Corker and Flake because it adds to the deficit or McCain, Flake and Corker because, “Trump!”? The only reason why the Repukes may hold Congress is because of the Dems talking about Impeachment. If they threw that away the Repukes would get thoroughly defeated and I would cheer. Then Trump can negotiate with the Dems. He wouldn’t get everything but he would get somethings and that would be better than the Repukes. As it stands, the best chance is do replace any Repukes who are up for re-election in 2018 with hardcore Trump supporters because believe me, if the same batch get in they’ll be the new people who constantly criticize Trump. They’re just not doing it now because they’ve got an election coming up.
So why don't the House & Senate start there and work on properly reforming the Income Tax (or replacing it all together) later?
I mean c'mon already they're making this much harder than it needs to be jamming Corporate and Personal Income Tax "reform" together in the same bill.
I do not know if this is a good tax bill. I defer to folks like Rand Paul and Mike Lee on these kinds of things. Let’s not group principled opposition to a bill with flat-out obstruction, which is what McCain, Flake, Corker and Collins are likely to do.
At the end of the day, keep in mind that the inflation tax, caused by Fed destruction of our currency, and deficit spending, will do far more harm to all of us, than a few % in income tax. I do not know how we can avoid instituting tariffs on imports at our current spending levels, in order to balance the budget. We know there is no intention to even cut a nickel of govt spending!
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According to Article I, Section 7 of the Constitution, “all bills for raising revenue shall originate in the House of Representatives[.]” Nancy Pelosi and Harry Reid got around that by hollowing out the House bill and passing a Senate version of the Affordable Care Act, which prompted an unsuccessful lawsuit from House Republicans over the origination clause.
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The ‘logic’, of which, I can never hope to understand: If the House passes a bill and the Senate GUTS said bill and replaces the verbiage that original bill ceases to exist.
IOW, if anyone in the REAL world had done the same w/ any other bill/contract, they’d be in Club Fed. faster than Skelator mixing her meds.
The GOP will pass a tax reform bill this year. The best tax policy for our economy is broad tax rate cuts that generate broad incentives for work, education, and investment for all Americans. Special tax breaks for homeowners and state income taxes generate narrow incentives to buy houses and increase state government spending, but they don’t build incentives that generate strong economic growth and job growth in the national economy. Home renters get taxed more to subsidize home buyers, while people in FL and PA get taxed more to pay for big federal tax breaks for Silcon Valley billionaires who get to deduct millions in state income taxes. Why should people outside of CA and NY have to pay more federal taxes to subsidize vast, overstaffed state government bureaucracies working on unnecessary programs in California and New York? The answer of course, is they shouldn’t have to subsidize state and local government spending in other states. So that’s what the House bill is trying to do. It’s trying to generate broad incentives for economic growth that benefit all Americans in all states, which is best for our economy in the long run. It’s the starting point for negotiations.
But of course that kind of bill would be costly to some people who own expensive homes and pay lots of state income taxes in states like CA,NY, and TX. So to get the votes to pass a tax reform bill, the House GOP is going to have to keep a certain amount of specific tax breaks in the final bill that passes and is signed by President Trump. Most likely, this will end in a compromise bill that limits the amount of federal tax deductions for state income taxes and home mortgage interest, but doesn’t eliminate either deduction completely. I think the limits will end up being fairly high—something like a $70,000 limit on the state income tax deduction and a $50,000 limit on the home mortgage interest deduction. Then we won’t have middle class people subsidizing huge state tax deductions for Silicon Valley billionaires and professional athletes, but everyone in the middle class will retain all of their current federal tax deductions and get a big cut in tax rates. People with incomes in the millions in high-tax states will pay more taxes, but there will be no political cost for that tax increase, and if a few GOP reps from those places vote against the bill, so be it. It will still pass and provide big benefits for the vast majority of Americans.