Posted on 12/19/2017 11:53:10 AM PST by jazusamo
House Republicans passed their $1.5 trillion tax-cut package Tuesday afternoon, kicking the action over to the Senate as the GOP speeds toward swift passage of President Trump’s top legislative priority and the most significant rewrite of the tax code in three decades.
“Today, we’re delivering on our tax reform promise to the American people,” said Rep. Kevin Brady, the House’s top tax-writer. “For the first time in over three decades, we’re delivering a new tax code that provides more, fairer taxes, and bigger paychecks to Americans across the country.”
The House passed the plan on a 227-203 vote, and the Senate is expected to pass it later Tuesday.
The action will complete a once-unthinkable timeline to get a tax bill through Congress before Christmas, and comes less than two months after House Republicans released their initial legislative text of the tax bill.
(Excerpt) Read more at washingtontimes.com ...
Whoo-hoo!
Under the existing tax system, I pay about $900 in Federal tax. Under the new bill, I would pay $2600. Naturally, I’m not too happy, but I know that most people will pay less, so that’s the way it goes. Maybe my stocks will increase their dividends enough to make up the difference?
So at least 9 Reps voted against it. We will need their names.
I’m sure the value of your stocks increased by leaps and bounds over the last year.
And when are Yertle and his squids suppose to vote?
I was my take that things should be made better for everyone.
The problem you face, is what gripes me about this bill. Should things turn out as you think they will, it would be a travesty.
The mortgage loan deduction limitation, frankly angers me.
It won’t affect me, but it’s the spirit of the thing, right and wrong.
It helps communities when homes change hands, particularly the high end ones.
People make improvements, purchase supplies and equipment... this stimulates the local economy.
Our idiots didn’t know this. They thought it was a zero sum win for them.
Like I said, it angers me.
Thanks, D1. Didn’t read the entire piece but the Slimes just had to get in a few Republican jabs, typical.
I think what is particularly bad is that certain individuals who are in effect businesses, are no longer to allowed to deduct business expenses.
Of course, most of them will probably incorporate.
Sounds like it may be tonight.
Do you own a home that cost more than $750,000? If not, then you are with the 90+% of Americans that own a home and will not be affected by this.
There are no tax cuts - it's just a shell game.
Imagine, government actually able to accomplish something!
Yes, I noted that they did. It just serves to confirm what we and any newcomers know or will learn by it.
Hey RATS!
Defend this vote to your constituents.
(I noticed a few RINOs too)
How the gon’ pay foh it? /s
i’m in the liberal craphole of NY and will get killed with the reduction in the state/local tax deduction but if it means ending the abuses and ridiculous pay of local gov’t i’m for it...
the athletic director of our school district (5 elementary schools, 1 middle school, 1 HS) recently retired- the last three years on the job she made a salary of more than $190,000 annually!!! the average single person income in the district is $88,000!!!
she’s now getting a pension of just about half that in which she does not have to pay NY state income tax on...lets hear it for everyone paying “their fair share”!!
Okay.
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