Welcome Guest [Log In] [Register]


Welcome to Conversations. We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Senate Weighs Scaling Back Tax Package To Win Deficit Hawks
Topic Started: Dec 1 2017, 02:32 AM (4 Views)
Webster
Member Avatar
Wasatch Storyteller & Resident Forum Curmudgeon
[ *  *  *  *  *  *  *  *  *  * ]
Washington Post: Senate weighs scaling back tax package to win deficit hawks
Quote:
 
WASHINGTON — Senate Republicans weighed scaling back the tax cuts in their massive package to secure crucial support as congressional analysts said Thursday the legislation would add $1 trillion to the nation’s debt over the next decade.

Republicans were making major changes to the bill up to the last minute, including one that would roll back some of the tax cuts after six years to appease deficit hawks. The first revamp of the tax code in three decades — a top political priority of President Donald Trump — would affect nearly every American and business.

The scramble to alter the bill came after senators said the chamber’s parliamentarian had ruled that automatic “triggers” designed to guard against big deficits would violate Senate rules. GOP leaders’ main concern was winning over lawmakers, including Sens. Bob Corker of Tennessee and Jeff Flake of Arizona, concerned about adding more red ink to the deficit.

GOP leaders also were struggling to placate Wisconsin Sen. Ron Johnson, who wanted an increase in the deduction for business income.

Senate Majority Leader Mitch McConnell, R-Ky., had expressed confidence early in the day, but he has little margin for error with a 52-48 majority. He can afford to lose two votes while counting on Vice President Mike Pence to break the tie.
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · Politics · Next Topic »
Add Reply

Aquös by tiptopolive of the ZB Theme Zone