Republican tax plan clears hurdle in Senate; fight erupts over spending

by Garry Watts November 29, 2017, 0:25
Republican tax plan clears hurdle in Senate; fight erupts over spending

Since the TCJA is going through the budget reconciliation process, the bill only needs a majority vote in the Senate to pass.

If the Senate approves its proposal, the two chambers would have to reach an accord before final votes on an identical measure and then send it to Trump for his signature.

Public polling on the Republican tax plan is almost as bad as the polling on Obamacare repeal bills: More than half of voters disapprove of the tax plan, while just 25% support it, according to a Quinnipiac poll from earlier this month. McConnell says he can't recall turning down an opportunity to visit White House.

A new ad set to air on television Tuesday paints the bill as a win for the rich, including President Donald Trump.

The president was having lunch with some members of the Senate Finance Committee ahead of what was expected to be a series of contentious votes in the full Senate later in the week over proposed changes to the labyrinth US tax code.

Moments after he left the Capitol, two key Republican senators on that committee, Ron Johnson of Wisconsin and Bob Corker of Tennessee, who had been holding out for more concessions to meet their different concerns about the measure, told CNN they would vote for it.

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However, those tax cuts will only last until 2027, at which point people making less than $75,000 will pay more.

Sen. Susan Collins of ME says she has won support to amend the Senate's sweeping tax bill allow homeowners to deduct at least a portion of their local property taxes on their federal tax returns. Trump said in his latest tweet on the tax bill.

The current Senate bill completely repeals the state and local tax deduction, which helps reduce the tax bills of more than 43 million families. Lawmakers "alarmed" by EPA's science board changes MORE (Pa.), Patrick Meehan (Pa.), Dave ReichertDavid (Dave) George ReichertMounting GOP retirements threaten House majority The Hill's Whip List: Where Republicans stand on tax-reform bill The future lies in the Asia-Pacific MORE (Wash.) and Michael Turner (Ohio). The changes, if adopted, would be the biggest US tax overhaul in three decades.

The House's chief tax-writer says ending the "Obamacare" requirement that everyone have health insurance - an element of the Senate bill - is a move the House also is likely to accept.

Despite the Budget Committee moving the bill forward, the TCJA is not assured to pass on the broader Senate floor. The Tax Cut Bill is getting better and better.


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