Trump Tax Cuts to be Delayed Until 2018

[Frodo]

Also, Mitch McConnell has indicated he will try to do with tax reform like he tried to do with repealing Obamacare -make this an all-Republican effort:

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WashPo
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Politico

[Pericles]

Malevolence neutered by incompetence seems to be the story of the GOP's rule.

[Virginiá]

Mitch McConnell Tricked Into Admitting He Just Wants to Cut Taxes for the Rich

http://nymag.com/daily/intelligencer/2017/08/mcconnell-tricked-into-admitting-he-wants-tax-cuts-for-rich.html

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[OSR stands with Israel]

Just do this



1. Massively cut taxes for middle class and upper middle class families

2. Lower the corporate rate from 35% to 25% Buisness tax rate

Ram it through with 50 votes

[Hindsight was 2020]

So much for getting a bounce back after healthcare failed

[The_Doctor]

Thinking, that unlike healthcare, they will probably succeed in some variation on tax policy. More the GOP's wheelhouse, more an easy issue for them, and the issue of tax cuts is ingrained as a popular one in this alignment.

Unlike healthcare, I THINK the GOP will prevail in this fight. If the GOP fails to enact tax cuts, then dang, a realignment is zooming on us by 2020.

[Technocracy Timmy]

Thinking, that unlike healthcare, they will probably succeed in some variation on tax policy. More the GOP's wheelhouse, more an easy issue for them, and the issue of tax cuts is ingrained as a popular one in this alignment.

Unlike healthcare, I THINK the GOP will prevail in this fight. If the GOP fails to enact tax cuts, then dang, a realignment is zooming on us by 2020.

On the bright side for you TD, a realignment in 2020 would be weaker for the Democrats than a post crisis 2024 one (described in your timeline) AND Trump being the fall of the GOP would allow people like you in the Party to step up and wrest back control from the alt right Trumpists.

[ProudModerate2]

Mitch McConnell Tricked Into Admitting He Just Wants to Cut Taxes for the Rich

http://nymag.com/daily/intelligencer/2017/08/mcconnell-tricked-into-admitting-he-wants-tax-cuts-for-rich.html

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Errrrrrrrrr !

[Adam Griffin]

Damn, you know it's gonna be bad when they're completely forgoing giving Average Joe a $10 tax cut or whatever before the next election, and instead want to make sure people don't see the effects until after the fact.

Over-under on >95% of these tax cuts going to the top 10%?

[Don Vito Corleone]

So, in other words, there won't be tax reform before the midterms.

[mvd10]

They could have tried working with the Dems first. I think you could get some Dems voting for revenue neutral tax reform bill that isn't regressive. A reconciliation bill has to be revenue neutral or it will only be temporary (and the GOP and the business community really want permanence), so the GOP's tax plan pretty much has to be revenue neutral. If it raises taxes on the poor and the middle-class in order to cut taxes for the rich I'm pretty sure atleast 3 GOP senators will vote against (Collins, Murkowski, Heller and maybe even McCain/Portman/Moore Capito?), so it probably also won't be that regressive. Alienating the Dems this early on while you can lose only 3 Republican senators is just dumb.

But passing a bill with the GOP's priorities (slashing the corporate tax rate, full expensing, cutting income tax rate, raising the standard deduction, repealing the estate tax and even cutting capital gains taxes) probably won't be revenue neutral since they already ruled out repealing/limiting some very expensive loopholes and border-adjusting the corporate income tax. It would be even harder to make such a bill distribution neutral, so I'm afraid they'll just slash the corporate tax rate to 15%, double the standard deduction and call it massive tax reform. I guess the best case scenario would be  a bill that includes massive revenue neutral tax reform combined with temporary tax cuts in order to make it politically palpable (the tax cuts will automatically expire after a decade while the revenue neutral part of the bill will remain intact). Maybe the temporary tax cuts will expire while a Dem is in office .

[TheSaint250]

Can someone please throw out McConnell and replace him with someone more competent?

We need tax reform now!

[KingSweden]

Can someone please throw out McConnell and replace him with someone more competent?

We need tax reform now!

Thune might be better, but who in the GOP caucus do you actually think would be an improvement?

[Kamala]

Can someone please throw out McConnell and replace him with someone more competent?

We need tax reform now!

Thune might be better, but who in the GOP caucus do you actually think would be an improvement?

Oh god. I was all for McConnell stepping down but now that Skeletor could possible become Maj Leader? Ugh.

[TheSaint250]

Can someone please throw out McConnell and replace him with someone more competent?

We need tax reform now!

Thune might be better, but who in the GOP caucus do you actually think would be an improvement?

A lot of people. I've always liked Rubio, but I don't know how he'd do as majority leader.

[MasterJedi]

Damn, you know it's gonna be bad when they're completely forgoing giving Average Joe a $10 tax cut or whatever before the next election, and instead want to make sure people don't see the effects until after the fact.

Over-under on >95% of these tax cuts going to the top 10%?

Easily closer to 100%, you know they don't want to give the middle class everything, if they just cut taxes for the wealthy they'll give the middle class jobs for 1/3 of their true value!

[#gravelgang #lessiglad]

They're delaying because they want to eliminate the state and local tax deduction that upper middle suburbanites in blue states rely on. In California alone, eliminating this tax deduction would result in higher taxes for millions of families that ordinarily vote Republican, many of whom vote Republican solely for lower taxes.

Getting rid of this deduction would be a bloodbath for the few Republicans remaining in California, New York and Illinois. It'd also tarnish the brand with the same suburban voters in states with decently high taxes, like Minnesota, Wisconsin, Michigan and Ohio.

[Santander]

We're tired from winning too much. We're just taking a breather.

[swf541]

So it wont happen then i guess

Dont see any major partisan legislation passing in 2018

[Coraxion]

A reconciliation bill has to be revenue neutral or it will only be temporary (and the GOP and the business community really want permanence), so the GOP's tax plan pretty much has to be revenue neutral.

You say permanence as if reconciliation bills are constitutional amendments, not the first things to get dismantled when the opposing party takes over.

[Grumpier Than Uncle Joe]

#SAD

[mvd10]

A reconciliation bill has to be revenue neutral or it will only be temporary (and the GOP and the business community really want permanence), so the GOP's tax plan pretty much has to be revenue neutral.

You say permanence as if reconciliation bills are constitutional amendments, not the first things to get dismantled when the opposing party takes over.

If tax reform ends up being generic broaden the base and lower the rates reform I don't really see why Democrats would want to undo it. They might raise the rates a bit, but in the end the tax code stays simpler and more efficient (which is the goal of tax reform). Sure, Bush and Bill Clinton raised tax rates in the 90s but in the end rates remained lower than after Reagan's tax reform in 1986. And if the Republicans push through a revenue busting tax cut it's guaranteed to expire in 10 years.

[RINO Tom]

We're They're tired from winning too much. We're They're just taking a breather.

[Brittain33]

Getting rid of this deduction would be a bloodbath for the few Republicans remaining in California, New York and Illinois. It'd also tarnish the brand with the same suburban voters in states with decently high taxes, like Minnesota, Wisconsin, Michigan and Ohio.

Goodbye Lance, Frelinghuysen, and MacArthur in NJ, too. Chris Smith seems immortal.

[Indy Texas]

Getting rid of this deduction would be a bloodbath for the few Republicans remaining in California, New York and Illinois. It'd also tarnish the brand with the same suburban voters in states with decently high taxes, like Minnesota, Wisconsin, Michigan and Ohio.

Goodbye Lance, Frelinghuysen, and MacArthur in NJ, too. Chris Smith seems immortal.

Wow, I didn't realize he's been in Congress since 1981.