Senate Republicans have the votes to pass their tax plan

[Zippyjuan]

http://www.cnn.com/2017/12/01/politi...nty/index.html


No word on how the "Trigger" problem where Corker wanted automatic tax increases if deficits were getting too big but one concessions is to protect DACA workers. Flake- one of the "deficit hawks" now says he supports it.

Republican Senate efforts to secure support for an overhaul of the nation's tax system appeared successful Friday, as at least 50 GOP members -- enough to advance the proposal -- have said they'll support passing the bill.

Arizona Sen. Jeff Flake, a key hold-out, announced just after noon that he would back the plan. Republicans can pass the legislation with 50 members and a tie-breaking vote from Vice President Mike Pence. This leaves Republican leaders two undecideds -- Republican Sens. Susan Collins of Maine and Bob Corker of Tennessee -- assuming no further changes upset senators who are already backing the bill.

"We have the votes," Senate Majority Leader Mitch McConnell said walking to the Senate floor following a conference meeting Friday.

in a public statement announcing his support, Flake said he was given promises from Senate GOP leadership and the Trump administration for a "growth-oriented legislative solution" to protect recipients of the Deferred Action for Childhood Arrivals program.

Collins appeared very likely to support the bill send a pair of tweets Friday outlining measures that had been included that she proposed.

[axiomata]

No tax hike trigger, good.

But the concern about increasing deficit is valid.

Why not include a spending cut trigger. Or include spending cuts in it of a magnitude equal to the easy static analysis of the level of tax cuts. Then, earmark the uncertain but likely increase in tax receipts to offset some of the up front budget cuts. Hack, you might even get a few democrats to crossover if their pet pork gets first dibs on some of the dynamic tax revenue.

[Zippyjuan]

No trigger. They feel they don't need Corker's vote now.

[enhanced_deficit]

Let's wait till they actually pass it and not just keep talking about it.


Related

Trump says Republicans 'have the votes' to repeal Obamacare

abcnews.go.com/Politics/trump-republicans-votes-repeal-obamacare/story?id=50135212
Sep 27, 2017 - In two separate appearances today, President Trump claimed Republicans have the votes to repeal and replace Obamacare - despite a vote on the bill being derailed this week after enough senators publicly voiced their opposition.

[Zippyjuan]

Should it pass, they still need to reconcile with the House bill- unless the House simply decides to accept and approve the Senate one. Then they can start painting the town red- with red ink. Adding another $1 trillion in estimated debt in the next ten years should bring the total debt to over $32 trillion by then.

The bill is nearing 500 pages and nobody has read all of it. They haven't released all of the changes they agreed to overnight. "You can learn what is in it after you vote on it." No text of the bill is currently available.

[Zippyjuan]

Haven't voted yet. Some still trying to figure out what has been changed. Parts are handwritten and illegible.

[Swordsmyth]

Senate passes huge tax cuts after last-minute changes; conference with House next

https://www.usatoday.com/story/news/politics/2017/12/01/senate-passes-huge-tax-cuts-after-last-minute-changes-conference-house-next/914701001/

[Brian4Liberty]

No tax hike trigger, good.

But the concern about increasing deficit is valid.

Why not include a spending cut trigger.

Exactly. I would support that "trigger". Corker is a useful idiot.

[nikcers]

Corker learned that a trigger he demanded in the tax bill that would automatically increase taxes if the tax legislation didn't generate the growth that Republicans anticipated, wouldn't pass Senate rules and couldn't be included.

You can't tax cut and spending cut in the same bill? Spending cuts should be next!

[William Tell]

WOAH, is this true? They just ended the Obamacare individual mandate? Will the house do the same?

Unlike the House draft, the Senate tax bill eliminates Obamacare’s individual mandate to purchase health insurance.

http://www.breitbart.com/big-governm...s-cut-for-all/

[enhanced_deficit]

WOAH, is this true? They just ended the Obamacare individual mandate? Will the house do the same?

http://www.breitbart.com/big-governm...s-cut-for-all/

Yes seems that way, saw same in other news reports too.

[euphemia]

I have made it very clear to Corker, Alexander, and Cooper that they need to address the spending. "It's the spending, stupid."

[specsaregood]

WOAH, is this true? They just ended the Obamacare individual mandate? Will the house do the same?

http://www.breitbart.com/big-governm...s-cut-for-all/

I wonder who helped make that happen....
Nov. 14th:

[Krugminator2]

Exactly. I would support that "trigger". Corker is a useful idiot.

I highly doubt this will happen but I have seen a few stories with this headline. https://www.washingtonpost.com/news/...=.075045cd48b1

"GOP eyes post-tax-cut changes to welfare, Medicare and Social Security"

And apparently Trump is pushing welfare reform privately. ""We’re looking very strongly at welfare reform, and that’ll all take place right after taxes, very soon, very shortly after taxes," Trump said in the White House last Monday. He was backed up by his press secretary, Sarah Huckabee Sanders, hours later: “This is something that the president has a great deal of interest in and I think you can count on probably the first part of next year seeing more specifics and details come out on that.”

Probably would be smart politically to eliminate some corporate welfare at the same time.

[milgram]

Trump was tweeting about Obama's debt a couple days ago so he better not ignore it himself

[Jan2017]

WOAH, is this true? They just ended the Obamacare individual mandate? Will the house do the same?

McConnell says he has the votes, but they always do that - and I wouldn't forget that there is a McCain still around to explode everything.

[Zippyjuan]

McConnell says he has the votes, but they always do that - and I wouldn't forget that there is a McCain still around to explode everything.

In case you missed it, the Senate passed the tax cut bill last night. It now goes to be reconciled with the House version and then another vote by both houses. Only Republican who voted against it was Corker.

"We need to pass something- anything!"

[goldenequity]

McConnell says he has the votes, but they always do that - and I wouldn't forget that there is a McCain still around to explode everything.

Shannon Watts @Shannonrwatts
John McCain, undergoing cancer treatment paid for by taxes, just voted to vote to end cancer treatment for taxpayers on Medicare. And we paid him to do it.

[Jan2017]

In case you missed it, the Senate passed the tax cut bill last night. It now goes to be reconciled with the House version and then another vote by both houses. Only Republican who voted against it was Corker.

"We need to pass something- anything!"

Trump celebrates 'biggest tax cuts in history' after Republicans' push $1.5 TRILLION bill - that the Democrats said they did not have time to read - through the Senate

• President Trump celebrated the victory on Twitter five hours after it passed
• The Senate approved a sweeping tax overhaul at 1.51am on Saturday
• Vote passed by 51-49 as Democrats voted in bloc and one Republican opposed
• Vice President Mike Pence announced passage at 1.51am to a round of applause

http://www.dailymail.co.uk/news/arti...y-Twitter.html

[Zippyjuan]

Trump was tweeting about Obama's debt a couple days ago so he better not ignore it himself

Funny to hear the Democrats talking about the National Debt when President Obama doubled it in only 8 years!

https://twitter.com/realDonaldTrump/...58006659321858

Republicans and the White House have given up pretending they want to reduce the deficits/ debt or have a balanced budget. Public views have shifted too. More now prefer bigger government than smaller government. During Obama's presidency, the "smaller government" was preferred.



http://www.slate.com/blogs/moneybox/...ent_again.html

More interestingly, Americans' view of government seems to have rapidly shifted since last September, according to Pew. As many Americans would rather have a bigger government providing more services as at any point in the past couple decades. Support for big government has risen to 48 percent, up from 41 percent in September, while the percent of Americans favoring a smaller government providing fewer services has fallen from 50 to 45 in that time. It's the first time since the beginning of the Obama administration, Pew says, that Americans have been so divided on the subject.

[goldenequity]

The biggest tax hike in American history is being used to pay for the biggest tax cut
https://theintercept.com/2017/12/01/...istory-by-far/

[Zippyjuan]

Trump:We Can Balance the Budget Fairly Quickly

"It can be done. ... It will take place and it will go relatively quickly. ... If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country."

Sources: Interview with Sean Hannity Feb. 22 and April 4, 2016

http://www.politifact.com/truth-o-me...airly-quickly/

"If we save just one penny of each federal dollar spent on non-defense, and non-entitlement programs, we can save almost $1 trillion over the next decade," Trump said in a September 2016 campaign speech at the New York Economic Club in Manhattan. "If our plan exceeds the 3.5 percent 10-year growth average, then our jobs proposal will actually reduce the deficit."

Exactly when could Americans expect to see a balanced budget?

Non-military, non-entitlement spending in 2016 was $525 billion. That plan would save about $52 billion a year on a $4 trillion budget. $500 billion over ten years. Assuming you don't raise spending on anything else. But he wants to increase defense spending (again wiping out everything), spend $1 trillion on infrastructure, and build a wall. His balanced budget proposal assumes 3.5% growth and tax revenues $2 trillion higher over that decade. But now the tax cut will mean an estimated $1 trillion LESS in revenues over that time.

[devil21]

It's a shame that Rand threw all of his "read the bills" rhetoric out the window for this bill.

[Zippyjuan]

It's a shame that Rand threw all of his "read the bills" rhetoric out the window for this bill.

Along with his desire for balanced budgets. This will add a lot to the red ink.

[devil21]

Along with his desire for balanced budgets. This will add a lot to the red ink.

The entire purpose of this tax overhaul is to funnel the currency being held offshore as part of the now-walking-dead petrodollar (TRILLIONS) right back into the pockets of the corporations and the 1% when it is repatriated/floods back. The average person won't see much of that currency and their standard of living will continue to decline after their temporary tax cuts expire. Keeping the returning currency out of the general economy is a prime goal of the bankers, since it keeps the average person poor (and unable to get out of debt using the devalued dollars) and minimizes price inflation.

[JamesFischer]

The entire purpose of this tax overhaul is to funnel the currency being held offshore as part of the now-walking-dead petrodollar (TRILLIONS) right back into the pockets of the corporations and the 1% when it is repatriated/floods back. The average person won't see much of that currency and their standard of living will continue to decline after their temporary tax cuts expire. Keeping the returning currency out of the general economy is a prime goal of the bankers, since it keeps the average person poor (and unable to get out of debt using the devalued dollars) and minimizes price inflation.

Did you take an economics lesson at your local Occupy Wall Street protest?

[devil21]

Did you take an economics lesson at your local Occupy Wall Street protest?

Oh look, it's a drive-by $#@! poster. Got something productive to add or a point to debate or can you only muster ad hominem?

(Btw, all "money" created in the system and everything that sprouts from it is created on the backs of the people. That's not partisan or Occupy or whatever. It's the truth. Perhaps it is you that should study economics.)

[Jan2017]

It's a shame that Rand threw all of his "read the bills" rhetoric out the window for this bill.

Senate Dems complained they didn't read a bill they were about to vote en bloc "NO" against anyway - that is so lame.

Along with his desire for balanced budgets. This will add a lot to the red ink.

Tax cut for most all, so that is red ink for the government, which can downsize -
but citizens and entities that employ those citizens would keep more and give less to the government.

And with the Ocare mandate repealed there is some sort of freedom of choice for a decision to buy health insurance or not
if not gained as part of an employment package/compensation/pension.

YUUGE.

[Zippyjuan]

Senate Dems complained they didn't read a bill they were about to vote en bloc "NO" against anyway - that is so lame.



Tax cut for most all, so that is red ink for the government, which can downsize -
but citizens and entities that employ those citizens would keep more and give less to the government.

And with the Ocare mandate repealed there is some sort of freedom of choice for a decision to buy health insurance or not
if not gained as part of an employment package/compensation/pension.

YUUGE.

They were literally hand writing changes up to the last moment before the vote. When you have no idea what is in something it may be better to vote "no" than vote "yes". Nobody had the chance to read the whole thing before voting (it runs about 500 pages). It still isn't in final form- the House and Senate bills need to be reconciled and then voted on again. (the Obamacare clause in in the Senate bill but not in the House version- it may or may not be in the final bill- that remains to be seen).

[devil21]

I'm expecting another December 24th 11pm vote screw job. Congress pushes crap bills through on Christmas Eve. The Fed Act and Obamacare immediately come to mind.