Trump Tax Cuts to be Delayed Until 2018

[H.E. VOLODYMYR ZELENKSYY]

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.

Like Obamacare.

[Virginiá]

Like Obamacare.

Right, but I think you're overlooking a few crucial aspects of that debacle:

1. Mitch did end up getting the vast majority of his caucus on board with a truly disastrous bill - something far worse than reversing tax cuts that will probably be racking up a lot of debt. Not only does that alone provide an excuse for reversing it, but rolling back tax cuts for the wealthy and large corporations won't be a hard sell either.

2. ACA repeal was going to rip the rug out from under millions of Americans and that was going to cause a lot of blowback on Senators up in 2018 and 2020. It was bad enough that it had Capito wavering, and her seat arguably isn't even vulnerable - that is, unless something like ACA repeal had passed.

3. You could argue that special interests will move to block repeal of tax cuts that benefit them, but there is a limit to their reach. Clearly powerful lobbyists and special interests had muted effects this time around with Republicans, so there are limits to their reach.


If Democrats make a big deal out of these changes to the tax code (assuming Republicans can even get it done), then it's likely they do manage to roll some of it back when they claw back power. They certainly won't face remotely the same pressure Republicans did with ObamaCare.

[The world will shine with light in our nightmare]

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

There are few weasel words and phrases in politics I hate more than the term "pro-growth."

[Badger]

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

What a profoundly $hitty shortsighted idea.

You really are just a rich kid, aren't you?

[#gravelgang #lessiglad]

Update on tax reform, courtesy of Politico.

Some fun quotes:

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Seems to me that Dems are open to working on tax reform from the start, but they'll reject a bill conceived only for reconciliation.

For policy: a bipartisan bill would likely include less sweeping changes, at least to the individual part of the Code. There isn't enough agreement on contentious issues like scaling back SALT deduction, mortgage interest deduction and other big drivers. Maybe they could come to a consensus on raising the standard deduction, but without a pay-for, it might be DOA anyways.

On corporate reform, there's likely to be more consensus, given that the corporate code has less of an impact on voters' pocketbook.

[RINO Tom]

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

What a profoundly $hitty shortsighted idea.

You really are just a rich kid, aren't you?

Go have a beer, dude.

[The Mikado]

Unless they seriously mess up the budget or the debt ceiling, both of those will be done by Sept. 30th. They should be able to start talking taxes in October. Even if the votes are in 2018, the article makes it sound like they aren't goimg to start working on this until January, which is unlikely.

[Frodo]

Unless they seriously mess up the budget or the debt ceiling, both of those will be done by Sept. 30th. They should be able to start talking taxes in October. Even if the votes are in 2018, the article makes it sound like they aren't goimg to start working on this until January, which is unlikely.

In the wake of their debacle on repealing Obamacare for which they wasted the better part of this year (and the best time to pass controversial legislation), it sounds eminently doable.  Isn't the Freedom Caucus out to make a nuisance of themselves for Trump just as they did for President Obama throughout his presidency? 

[Badger]

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

What a profoundly $hitty shortsighted idea.

You really are just a rich kid, aren't you?

Go have a beer, dude.

Great suggestion. I will.

Ahhhhh. That was refreshing. I love the two new microbreweries that opened up near me.

Now, where was I? Oh yeah. Old-school Republican's suggestion is a profoundly s***** idea.

Thanks for the beer, Tom! 😀