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View Full Version : Republicans to Push for More Tax Cuts, Balanced Budget Amendment




Swordsmyth
03-28-2018, 09:12 PM
Republicans are hatching a plan to bring taxes and the budget back into the spotlight in the next few months, though perhaps more to score political points than to actually get something done.First, Republicans want to push for a second round of tax cuts, focused on making the temporary individual tax cuts permanent. However, there is no plan to use the reconciliation process to pass the cuts, which means they will need Democratic votes in the Senate to get the job done. Since there’s very little chance that enough Democrats will join in, the push for more tax cuts will likely be more symbolic than substantial – and that may be just what Republican are counting on. GOP lawmakers can portray the proposed cuts as a defense of the middle class, while daring Democrats to vote against them. “Can you imagine Democrats voting that down? I mean, how do you explain that one?” Senate Majority Whip John Cornyn told Politico (https://www.politico.com/story/2018/03/27/tax-cuts-gop-2018-midterms-482158).
Bloomberg’s Sahil Kapur reports (https://www.bloomberg.com/news/articles/2018-03-28/your-tax-cut-isn-t-likely-to-be-made-permanent-anytime-soon) that Republicans are considering holding a vote for a second round of tax cuts on April 17, when taxes are due this year, for maximum publicity.
The second part of the developing GOP strategy is to push for a balanced budget amendment. Critics will note that Republicans have run up an enormous amount of red ink in the past few months, making it an odd time to start talking about a law that requires a balanced budget. But there may be political points to score on that subject before the election. Here’s Politico’s take (https://www.politico.com/newsletters/playbook/2018/03/28/house-republicans-balanced-budget-amendment-260173): “It’s almost election season, and it would be helpful if GOP lawmakers could go home and be able to say they voted to support balancing the federal budget, even though they voted boosted discretionary spending by a ton, and have not touched entitlement spending, which, they have said for years, is the driver of U.S. budget deficits.”

More at: https://finance.yahoo.com/news/republicans-push-more-tax-cuts-220921955.html

Origanalist
03-28-2018, 10:24 PM
Same old same old, give tax cuts, spend more money and pass legislation that couldn't have made it with a democrat in control.

PAF
03-28-2018, 10:38 PM
The BBA, huh... I figured it was only a matter of time. All that would do is legalize what is not permitted by the Constitution. Congress would be able to set whatever figures they deem necessary. Much like they do now, but with an Amendment that would cement things deeper.

Yes, I OPPOSE a BBA. Everybody else should oppose it too, IMO.

TheCount
03-29-2018, 06:59 AM
Shameless pandering which should convince no one but will be endless repeated by the faithful.

Zippyjuan
03-29-2018, 12:43 PM
Add to the debt and deficits while claiming to oppose debt and deficits. Then blame it on the other guy. Makes great economic sense.



Critics will note that Republicans have run up an enormous amount of red ink in the past few months, making it an odd time to start talking about a law that requires a balanced budget.

Aratus
03-29-2018, 12:46 PM
Same old same old, give tax cuts, spend more money and pass legislation that couldn't have made it with a democrat in control.

true...dat.

oyarde
03-29-2018, 01:24 PM
Great , lets see the balanced budget plan .

Zippyjuan
03-29-2018, 01:32 PM
Great , lets see the balanced budget plan .

Do they have one? (Rand tried- but even his assumed that tax collections rose by 25% during the period he worked the deficit down to zero- and that was before they recently decided to cut taxes and spend more causing $1 trillion deficits starting later this year- the budget deficit at the time he wrote his proposal was about half that so now cuts would have to be twice as much or tax increases twice as high)

Aratus
03-29-2018, 01:35 PM
The big corporate tax cut just triggered a 300 billion dollar loan
"borrowing spree" by the Treasury Dept in just this month alone.

TheCount
03-29-2018, 01:44 PM
If they make any kind of serious squealing about spending cuts or balancing the budget, it will mean that they are certain that they will lose congress in the fall.

That will begin their pivot to pretending to be about small government only while they are out of power.

Aratus
03-29-2018, 01:48 PM
TheCount... I agree. This HINTs that both sides sense a Blue Wave.
Gears are ploysci narrowcasting shifting and glaringly grinding on...