The cuts for the rich and corporations mostly do not….
If there is just 3 GOP Senators against the tax bill ?
It’s a goner…
Congressional Republicans have implanted nearly 50 expiring provisions in their tax-cut bills that, if left unaddressed, would transform what Republicans promised would be middle-class tax relief into a law that raises taxes for tens of millions of Americans.
More than 80 percent of the tax breaks set to go away would be taken from households. The perks for corporations are generally permanent, including the biggest single benefit in the bill: a permanent reduction of the corporate tax rate from 35 percent to 20 percent.
Democrats have accused the GOP of offering only illusory benefits for families, but White House and Republican leaders in recent days have repeatedly insisted that lawmakers in future sessions of Congress would extend the cuts or make them permanent. Future lawmakers, they argue, would be unwilling to let large-scale tax increases targeting the middle class take effect.
“We have a lot of confidence that Congress will do the right thing,” Treasury Secretary Steven Mnuchin told Fox News. “And, again, the priority for the moment is middle-income tax cuts.”
But in Congress’s current polarized state, no congressional action can be guaranteed, even if both parties agree on its merits. And if Congress were to let the cuts expire, the total bills aimed at individuals would be massive.
The issue, since it came to light a week ago, is causing consternation with Sen. Jeff Flake (R-Ariz.), who thinks the party has designed the bill to get around Senate rules but in a way that could add much more to nation’s debt in the future.
Because of these concerns, Flake told Fox News Radio on Wednesday that he is undecided on whether he will support the bill….Share on Facebook