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 ...
People feel this is a good tax bill and everyone on FOX was speaking for it and are excited EXCEPT for FOX’s football bat Shep.... he was on and is extremely critical and pushes the demorats’ stance of it is not going to help the middle class. I am middle class and the calculators indicate I will save $2,000+-. Shep needs to be GONE. Wonder when one of Shep’s old boyfriends is going to accuse him of sexual assault.
I would like to see all deductions removed (other than the cost of doing business, of course).
Even the standard deduction.
Just give us a tax rate based on our income level and, eventually, make it a flat rate.
Straight party line vote.
Democrat voters need to look long and hard at that, and reflect upon the fact that their elected reps chose not to let them keep more of their own hard earned money.
Sorry, that Zillow link expands options rather quickly.
This is the link I meant to give you.
https://www.zillow.com/homes/la-crescenta-ca_rb/
Yes the Democrats whine this tax cut doesn’t help the middle class enough but when have they ever done anything for the middle class? To my knowledge the Democrats have never passed a tax cut to the middle class, unless you count Obama’s one time payroll tax cut of a couple of hundred dollars.
I wouldn’t care if I got no income tax cut at all. It’s a nice-to-have, but not a show-stopper for me.
To me, the most important parts of the bill are the corporate and business tax cuts. Mr. Roo Roo’s and my portfolio are up 30 percent since DJT was elected, and we expect another great year in the stock market in 2018.
I’m also happy about repealing the Obamacare mandate. It’s one more nail in the coffin for Bathouse Barry’s disgraceful “legacy.”
Flake might decide to do a copy cat thumbs down.
Here are Republicans who ‘voted no’.....all but one are from California, New Jersey and New York.
CA-48 Dana Rohrabacher
N
CA-49 Darrell Issa
N
NC-3 Walter B. Jones
N
NJ-2 Frank A. LoBiondo
N
NJ-4 Christopher H. Smith
N
NJ-7 Leonard Lance
N
NJ-11 Rodney Frelinghuysen
N
NY-1 Lee Zeldin
N
NY-2 Peter T. King
N
NY-11 Dan Donovan
N
NY-19 John J. Faso
N
NY-21 Elise Stefanik
CA-48 Dana Rohrabacher
N
CA-49 Darrell Issa
N
NC-3 Walter B. Jones
N
NJ-2 Frank A. LoBiondo
N
NJ-4 Christopher H. Smith
N
NJ-7 Leonard Lance
N
NJ-11 Rodney Frelinghuysen
N
NY-1 Lee Zeldin
N
NY-2 Peter T. King
N
NY-11 Dan Donovan
N
NY-19 John J. Faso
N
NY-21 Elise Stefanik
Speaking as a couple who worked their entire life in California, paid through the nose for a high cost of living, who is still on quite a bit of equity looking to move out of the state in the next year or so, I hope you are wrong about the markets tanking. But I will remember your well wishes should that come to fruition.
I’m the executor of an estate. The deceased, my Aunt, died this year. The new estate tax rules will not be retroactive, which seems unfair, especially since my Aunt paid taxes on the money she is leaving to the family.
Does anyone no if the estate rules will be retro active?
Yeah, it won’t help us as a larger family even as it does help me individually. I’m still happy it passed and hoping it helps us all as a country.
Mortgage interest deductions make home purchases possible for many people. Without them, home sales would slump and home values would as well. Folks who purchased a home and later wanted to move up, would more often be stuck in the first home.
This is a big deal.
It shouldn’t be seen as a perk for a limited number of people. Yes the new home-owner is helped, but the local community is as well.
More competition for homes because more people can participate is a good thing for property values and local taxation.
The more hard working people we get into homes, the more healthy our communities become.
I’ll bet Peter King from NY and other RINOS from CA, NY, NJ, IL and CT voted no. They are from the high SALT states.
Are you sure? Is it because you itemize? I can’t make any sense of it until we actually see the tables.
Mortgage exemption covers up to $750,000.
Now how about a $1.5 Trillion (or more) SPENDING CUT package?
Don’t understand that. If they’re filing as a business and no longer under themselves, they’ll come out much better.
Probably NY, NJ and CA Republicans. Losing most of the SALT deduction will hurt them. I don't live in a high tax state (VA) so the $10,000 cap covers me.
Honestly, I would have been fine with them leaving the tax rates alone if they had made significant cuts in spending.
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.