I don’t understand the Democrat’s messaging on this. They’re getting lost in the details.
This is the Trump Family Tax Cut Act. That’s all it is.
Pass-through tax cut. Corporate tax cut. Rich heirs’ tax cut.
The Trump Family Tax Cut Act. That is what it ALWAYS should be called. By everyone.
Dems need to run ads with that name, refer to it in the same way that GOP refer to the “death tax,” send out press conferences with that name … incessantly. They should hold press conference to announce that they plan to amend the bill’s name to this. Sing it from the hilltops. I’m serious.
The corporate delay until 2019 in the Senate bill is not going to go over well with the donors. The mean spirited deduction slashes in the house bill aren’t going to go over well with the middle class. It looks like the Republican Congressional leadership is some sort of political suicide cult.
They’ll never pass a tax reform bill for just those reasons.
Obamacare Repeal 2.0 here we come. Byrd violations, massive differences with House bill, provisions that NY/NJ/CA/etc. reps can’t support unless they retire, a frustrated, know-nothing PotUS ready to lob grenades into the room, and a bunch of senators running the gamut from principled asshole (Rand Paul) to practical (Collins) to reputation-minded (Flake) to pissed off (Corker).
I’m fully aware it’s going to take a lot of phone calls, organizing, and protests, but I think we can beat this thing.
This piece does not mention if doing away with the student loan deduction is in the bill.
Senate bill as currently envisaged would not do away with deducting student loans. (Per WaPo.)
Superb suggestion; I absolutely concur. I’m going to start spreading that phrase around, with proper attribution to you of course.
A rational Republican leadership would be working with Democrats to pass a tax bill that would keep all the constituent groups happy. Republicans might not end up with everything they want, but after all the Democrats are beholden to the same donor class. Most of what the big boys want would make it through with modifications aimed at appeasing the middle class. Instead, the Republicans threat this like ObamaCare repeal. No hearings. No discussion. Just an up or down party line vote. I have no idea what a real Speaker or Senate Majority Leader would think of the process but I suspect they wouldn’t think much of it.
Republicans deserve to loose. They have no idea how to legislate and they are clueless when it comes to governing. .
Exactly. I’m thinking it’s all about Trump, especially the estate tax repeal. Increasing and preserving his dynastic wealth.
A rational Republican would consider a payroll tax cut, but Gary Cohn said in an interview this morning that such an action wouldn’t help workers. Instead they need wage inflation from trickle down. He also said that CEOs are super excited about their tax cut, along with his previous comment that you can buy a car or remodel your kitchen with $1000.
@austin_dave If Dems agree to a one-year abolition of the estate tax like the Bush tax cuts, do you think the Trump spawn will off their father?
I have about $30k in N.J. state and local taxes. This is not that unusual here. So I get a $10k Federal tax increase right of the bat offset by perhaps $4k from the increased standard deduction. $6k is a big increase. Just because N.J. is a blue state with no Republican Senators.
Is anyone handicapping the odds of getting a bill thru both chambers?
No, right now the GOP is a tire fire, with leprosy, drinking grape soda, singing Nickleback songs.
But, I just found out from my university, that the Senate bill will tax all grad students’ tuition awards. For young people trying to complete their JD, PhD, etc. it will quadruple their tax liabilities (they already pay taxes on stipends.). So, to help pay for the tax breaks for the ultra rich, students will still be penalized.