House passes tax bill as Florida members vote party line

by Ben Pena December 20, 2017, 0:44
House passes tax bill as Florida members vote party line

If passed, a final bill will be sent to President Donald Trump to sign, which he said he would do before Christmas. With today's passage of the Tax Cut and Jobs Act, we will be pushing economic opportunity deeper into our society and to every corner of our country. But Rep. Peter King, another New York Republican who plans to vote against the plan, says that Republican voters in his district won't count the bill as a win for the president.

That includes Sen. Bob Corker, the only Republican to vote against the Senate's initial tax bill, who said in a statement at the end of last week that he would back the new, compromise version, despite his earlier concerns about projections that the legislation would add almost $1.5 trillion to the deficit over a decade.

"Future generations will remember who cast votes to raise taxes on 86 million middle class households and heap $1.5 trillion in deficits on our children and grandchildren", added House Democratic Whip Steny Hoyer of Maryland.

The plan includes a steep tax cut for businesses and temporary tax cuts for individuals. Workers would start to see changes in the amount of taxes withheld from their paychecks in February. They were removed from the gallery by the sergeant-at-arms.

At a news conference Tuesday morning, members of the GOP hailed the bill that would slash taxes for businesses and the wealthy while offering modest cuts for other Americans. No Democrats voted for the bill. Asked if he was concerned by recent polling that shows the bill to be broadly unpopular, Ryan said he had "no concerns whatsoever", and he blamed the perception on misinformation.

The Republican-controlled U.S. House of Representatives approved sweeping, debt-financed tax legislation on Tuesday, sending the bill to the Senate, where lawmakers were due to take up the package later in the evening.

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Reduces the top tax rate for the wealthiest Americans to 37 percent from 39.6 percent.

Protesters briefly interrupted the proceedings, chanting "kill the bill!" right before Speaker of the House Paul Ryan (R-Wisconsin) made his speech on the House floor. Speaking in front of the White House, she said Democratic lawmakers should have been "banging down the door of the building behind me to be part of this process".

The bill's main features are cuts in the corporate tax rate, an end to the estate tax, a reduction in rates for most tax filers and an increase in the individual exemption.

Once the lower chamber approves the measure, the Senate is expected to quickly follow suit. Only on Friday did Republican leaders cement the needed support for the legislation, securing endorsements from wavering GOP senators Marco Rubio of Florida and Bob Corker of Tennessee.

Republicans crafted the bill with the aim to simplify the tax code by cutting loopholes for special interests.

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