Back on November 3rd, Eric Levitz of New York magazine took a look at what some Republican senators had already said on the record and concluded that “it’s hard to see how the Tax Cuts and Jobs Act ever becomes law.” His focus at that time was on Sens. Bob Corker of Tennessee, Susan Collins of Maine, and John McCain of Arizona. He didn’t mention Senator Ron Johnson of Wisconsin who has since come out strongly against the bill.
Each of these senators have expressed slightly different concerns. John McCain is reluctant to support the process that is being used since it doesn’t follow “regular order.” This basically means that the bill is being negotiated behind closed doors without expert testimony and open hearings. The opportunity to offer amendments will be limited, as will be the time to debate the bill on the Senate floor. For McCain, this isn’t how Congress should operate and it was the primary objection he had to the effort to repeal Obamacare.
Sen. Corker is more concerned about adding to our national debt, and he’s promised not to vote for a bill that hurts the nation’s bottom line. Unless he goes back on this promise, he’s going to be a ‘no’ vote.
Sen. Collins doesn’t like the repeal of Obamacare’s individual mandate that has been added to the bill and has said that she doesn’t support it. She also objects to a repeal of the Estate Tax.
Sen. Johnson complains that the bill “is imbalanced in favor of large corporations.” Like McCain, he also has big problems with the process.
So far, only Johnson has definitively stated that he won’t vote for the bill, but the objections of the others have either not been addressed or addressed halfheartedly.
On the House side, the omens look good for the Republican leadership, and they’re expected to pass their version of the tax bill later today. This time, they’re not expected to do a victory lap in the White House Rose Garden like they did back when they passed their Obamacare repeal. That’s because they now realize that there is no victory until the Senate can produce.
Senate Majority Leaders is under tremendous pressure and he won’t want to see the process die in his chamber again. But he can only lose two votes and he’s got more than two problem senators. If he can’t figure things out quickly, and the Republicans lose the special election in Alabama on December 12th, he’ll be in even a tighter jam.
If you’re gaming this out at home, you should also remember that eventually the House and Senate will have to agree to a single bill, so there are some tradeoffs that won’t ultimately work because even though they’d make passage in the Senate possible, they’d ruin the chances of passing it through the House. But McConnell would very much like failure, if it comes, to come in the conference committee negotiations with the House so that blame can be shared.
In any case, if the House passes their bill today, as expected, that’s an important hurdle cleared. But it isn’t assurance of anything.
Current markup of the bill has every taxpayer making less than $75K per year looking at a significant tax increase.
This is not counting premium increases for the Obamacare mandate repeal or other reductions in spending programs.
Those making between $20K and $30K a year would see their taxes increase by an average of $8K.
I don’t see any way this bill gets out of congress. It’s insane.
Vox covers this as well. Fully 65% of Americans would see a tax increase under this bill.
Evil MFs. Tax the lower,income to,pay for the rich fucks.
Once more the GOP is intending to transfer wealth from those of us just trying to get by to the very wealthy. My understanding is that this tax legislation is also very unpopular. Rarely do we see unpopular legislation that transfer wealth from the public good and the working classes (I include middle classes under this umbrella) to the very wealthy and corporations in any nation that is not a Pinochet-style dictatorship. The closest analogy in a functioning democratic nation I can think of may be the UK’s public housing law changes during the Thatcher era (and that is drawing on memory only at the moment).
My guess is I and my spouse will be pestering our Senators for the foreseeable future once more.
correction: I misread the chart in the report. The tax increase on 20K-30K would be significant but much smaller than 8K.
It’ll be nice to beat our Repub reps about the head and neck with this for the next 12 months, no matter what the final outcome.
Really? Are you going to pay the taxes my daughter will then owe instead of getting a refund if this passes?
How are you supposed to not freak out over this trash? Where are all the Democratic voices in opposition or are they going to vote for it too? This is exactly the thing the democrats tried in the election -be friendly to Wall Street and Corporations. Stand back and pretend and hope no one notices. They did and they will again.
Are you on drugs? We just discussed this in the last thread. What you’re describing is the exact opposite of how the Democrats approached the election, adopting the most progressive platform since LBJ. And once again, we see zero Democratic votes in favor of this bill.
Mark your opinions to market. The Democratic Party you imagine is not the Democratic Party that is.
No, you really need to read the Autopsy of what happened, it is rather lengthy but the platform, while progressive, took a back seat. The democrats lost support of both POC and whites. While POC are just shy of fifty percent of the party their was little support for them or BLM and police violence and the middle class was basically ignored. And the party lost far too much of the youth vote. Seems too many did not get the intended message. The party base was also opposed to the hawkish talk on wars and Syria, especially in the States we lost. The association of the party with Wall Street and corporations was also a factor. Really give it a read. And the Autopsy does not include things like Comey that was beyond their control. Maybe they are all wet, and you can tell me that after you’ve read it. The democrats should have won but they lost far too much of their base in critical states. The danger is they may not come back unless more is,directed to them. Hence, the tag line, the Democratic Party in Crisis.
I still don’t see leading Dems out there talking about this trash bill. But then my time in front of the tv is limited. But folks like Schumer, Pelosi, Sanders, Warren, Harris,and Booker should be taking turns at the mike. I do agree it is good they thus far oppose it all.
Dems aren’t talking about the bill?
https:/www.pbs.org/newshour/show/sen-elizabeth-warren-gop-tax-plan-is-giveaway-to-giant-corporation
s-not-middle-class
https:
http://www.nytimes.com/2017/10/29/us/politics/democrats-tax-reform-middle-class.html
https:
/www.cnbc.com/2017/11/02/democrats-waste-no-time-slamming-catastrophic-gop-tax-plan.html
http://www.slate.com/articles/news_and_politics/politics/2017/11/democrats_sound_the_alarm_on_the_ta
x_bill.html
That’s just a quick Google of recent days.
/sorry, can’t figure out which code creates the link
Thanks. I will have a look.
I agree that is something. But.. the blue dogs are looking to make a bi partisan deal per The Hill. Of course if it is a good deal, fine but …
You are a bit behind the times.
The Link
Learn about the a href attribute
That will post the link.
Thanks.
link
Just Passed
No democrat voted for it
Passed by not exactly by a gaping margin – 227-205 or something like that.
Psst – In your second sentence you mention Corker a second time instead of McCain.
Menendez mistrial on now
Wins on either side are tentative anymore. We celebrated every time the Republicans failed to kill health care. We celebrated when Dems did well in off-year elections across the country. We celebrate every time Mueller announces another target in his investigations.
So we can expect the Republicans, especially Ryan, to be giddy about this win for the House, even though we can hope it will be greatly modified in the end.
The Republicans will never stop. They will continue to try to kill health care, and if they can’t do it on its own merits, they’re going to sneak it into the tax package. A win for them, even a short-term one, will make them cockier.
We have to make it crystal clear that this tax reform hurts the majority of us and is designed to clear the path for billionaires to rake in more money than ever. We have to make sure the numbers are clear and the consequences are spelled out.
A win for them will be touted as a game changer. We can,t let that happen.
13 Republicans voted against it, including “Freedom Fries” Jones (formerly a Democrat)
If they were not so greedy this would be easy.
220000. Gallons.
They should pump all that oil direct to Bismarck and set the State Capitol on fire with it.
I read the Lisa Murkowski comments and she didn’t say she won’t support the bill. She’s all mealy mouthed qualifications, which means she will vote for it.
She’s a Republican, which means that on a good day she has slightly more morals than Hitler.
>She’s a Republican, which means that on a good day she has slightly more morals than Hitler.
What a year. A comment like this used to invoke rolled eyes and barbs about Godwin’s Law, but in 2017, the problem isn’t mentioning Hitler – it’s the use of the phrase “slightly more”, given that so much of the GOP base is literally, openly, specifically and by name supportive of Hitler, his slogan and his legacy.
If you’re hanging your hopes on Ron “Dumbest Sack of HAmmers in the Senate” we’re just fked good and hard.
If the Senate passes this it is only to kill it in reconciliation and share blame with the House. Another suicide note and they all know it. GOP is truly skewered this time; sympathy level zero.
No Democrat should touch this legislation.
Serious question: What is behind the vehement objection to eliminating the estate tax? The Republican argument is that this money has already been taxed.
I am extremely liberal but I am also pragmatic. Can some please enlighten me as to what is wrong with the GOP case? It appears to me that they are correct or has this money not been previously taxed?
Chagrined to say – I don’t get it…
Um, what? You don’t tax money. You tax people or companies.
estate tax 101
I very much appreciate the response. However something still seems amiss to me.
“A capital gain refers to profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price.”
If the assets are never sold then there is no profit – so what exactly are we taxing?
The assets are transferred from one party to another. We’re taxing that income.
Got it! Thank you.
. . . privileged-class “nobility” (aka plutocracy/oligarchy) . . .
then nothing much!
Expanding a bit on marduk’s accurate point: “double-taxation” is an utterly dishonest propaganda success.
This applies more broadly, but in the specific case of the estate tax: whether the deceased has paid taxes (or, perhaps more likely in relevant cases, avoided doing so via “tax shelters”) on the sum of money bequeathed is completely irrelevant.
The inheritance tax does not (“again”) tax the deceased (duh! good luck getting him/her to pay up . . . they’re dead!).
(This is why “death tax” is such an utterly dishonest piece of propaganda.)
It taxes the heirs on the windfall of the inheritance. This is as it should be unless you want inherited wealth ruling the world (I mean even more than it already does).
Also too:
Shorter: it’s a tax paid only by someone who has just become very wealthy, through no effort or merit of their own.