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 ...
[We’re going to take things away from you on behalf of the common good.” – Hillary Clinton]
Hillary is such a good Communist in a Pants Suit.
GOP tax plan. They might actually get it done, but the Senate is untrustworthy.
They will make Senator Portman from Ohio look awful if they backstab right now.
What I don’t understand is that the people who pay humongous property taxes and state income tax will only get to deduct about $10,000 of it. But most of those people will be high-income earners so they’ll be saving some money because their bracket rate is lowered. I’m wondering if those people in high income brackets are considering that when they assume they’ll be spending more.
Why, are you a loan shark? That applies to the interest on a mortgage. That’s a big giveaway to the mortgage industry lobbyists.
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Come on you don’t get the perpetually miserable FR poster do?
Nothing is ever good enough.
Why don’t you stop being a rabble rouser and give me a hand re-arranging these deck chairs?
Schlepper deserves to show up for "work" every day, with a new injury to his face.
Ahead of schedule. It’s the Trump Way. MAGA!
Ahead of schedule. It’s the Trump Way. MAGA!
No, they won’t be. If your estate was greater than $5.4 million, and you have already passed on, your estate will be taxed under the existing law.
Thank you, I just finished looking them up and was going to post.
I lived in SoCal for many years of my young life and Cali went from a place of joy and prosperity to an incredible disgrace to this Nation. Property taxes were going up practically every day until Prop 13 which shone a limited light on how the politicians were stealing from their constituency. The housing market, once again popped with the "interest only" loans that allowed tens of thousands of people that should never have purchased a home, to do just that and crater the market. Cali does this over and over again, they never learn.
But I will remember your well wishes should that come to fruition.
The markets around D.C. and NoVa are in a similar situation. I own here since this is where my beloved Corps put me 9 years ago so when this tax bill hits, the majority market around the beltway will be hit hard but will stabilize, as I know Cali will.
Of course they voted no. Their desire to be hung from the lampposts by their constituents is very small.
My taxes will drop about 3k next year. My net worth has gone up nearly 50k in the last few weeks on this bill so it’s a double win for me. If it juices GDP like I think it will, it’ll be a triple win.
I lost my individual health insurance policy this year, and just signed up for another one. The only actual insurance company left in my state that does individual policies (not an HMO, etc.). Of course I’m paying for it (50% more than last year just on the premiums). I had contemplated becoming a “corporation” - but it all seems pretty complicated for a one-man outfit like me. I would need to pay myself a wage every month, keep all the records, fill out the various forms every month, etc.
I believe that this new bill won’t even allow me to deduct my $29,000 a year medical premium, so I’m getting screwed both ways. I guess I’ll need to incorporate. Of course I’m screwed triple - unless they allow “new” corporations to purchase health insurance outside of the Nov - Dec window.
Looks like the Senate is going to vote tonight, or try to anyway.
It’ll be right down to the wire.
Which in some areas of the nation is exceeded rather quickly, especially if you have three kids or more.
Yep. I wish they’d just get the votes and then publish them or delay the vote til they get them.
Dana Rohrabacher and Darrell Issa voted ‘No’?
Geez...
Right now it looks like they’re voting to begin 10 hours of debate (if anyone has insomnia, now’s the time to tune into c-span!).
I’d say “a drink for every time the RATS say TAX CUTS FOR THE RICH!” but we’d all die of alcohol poisoning if we did that.
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