Ya KNEW this was coming….
Rewriting the nation’s tax law has not be done in decades…..
It isn’t gonna be easy yo get it done this time either….
The whole thing rests on just a few Republican Senator ‘s…..And ALSO the Democrats….
The final Senate bill got passed with promises that GOP Majority leader Mitch McConnell made that won’t/can’t be done with the GOP House….
So the critical few Republican Senator’s will have decide what they are gonna do….
There are things in the tax bill that are attached to the budget bill that comes back around in two weeks that Democrats HAVE TO support to fund the government….
All this means that the House and Senate have a VERY narrow path to tip-toe thru to get the votes they need….
And right now?
Things do NOT look promising for the tax bill…
The GOPer’s WANT the tax bill….
They MUST pass a spending bill….
Oh, yea….The polling on the tax bill is uniformly NEGATIVE by Americans…
“What we’re missing in the process is virtually the entirety of the process,” said Edward D. Kleinbard, a former chief of staff at the congressional Joint Committee on Taxation and now a professor at USC’s Gould School of Law.
Republicans, he said, are “voting for an ideology rather than a tax legislation.”
At one point it seemed the tax bill, after passing the Senate in the early hours of Dec. 2, might be quickly rushed for a House vote. But that momentum has slipped some, as staff and lawmakers, take a second look, making sure the final product is one Republicans can support. Polls so far have found most Americans don’t approve of the bill.
Leaders have little margin for error; they can lose only about 20 Republican votes in the House and no more than two in the Senate, and still be able to pass the bill along party lines.
A Christmas vote would give Republicans a legislative high note to end Trump’s first year in office.
“The desperation is palpable,” said Sen. Ron Johnson (R-Wis.), who continues to raise concerns about the tax treatment of pass-through businesses, and whose vote is not guaranteed.
As the final bill takes shape, GOP leaders must balance the votes of centrists, such as Sen. Susan Collins (R-Maine), whose support is contingent on healthcare votes to ease the tax bill’s repeal of the Obamacare requirement that all Americans have insurance, with deficit hawks such as Sen. Bob Corker (R-Tenn.), who opposed the earlier version for adding too much to the deficit.
Though GOP leaders say the tax cuts will pay for themselves through economic growth, the Joint Committee on Taxation has concluded that both versions would add about $1 trillion to the deficit, even after accounting for expected growth.
A Treasury report Monday sought to assure lawmakers that the cost of the $1.5-trillion package would be more than paid for by future economic growth. But the one-page report was widely criticized because it relied heavily on separate and as-of-yet unannounced future initiatives for infrastructure development and welfare reform.
Senate Minority Leader Charles E. Schumer (D-N.Y.) called the report “fake math.”
image…(Evan Vucci / Associated Press)Share on Facebook