GOP Tax bill – how is it progressing?
The new tax plan was an inevitable source of conflict for anyone versed in politics and the opposing viewpoints between the Democratic and Republican party. With Republicans overtaking Congress, the question was not if they would overhaul the tax plan in place from Obama’s administration, but when, especially as they are encouraged by Republican President Donald Trump. The Republican-led Congress is currently in the final stages of gathering support, and President Trump is pleased.
“I have seen [the bill],” President Trump said. “I think it’s going to do very, very well. I think that we are going to be in a position to pass something as early as next week, which will be monumental.”
Currently, the text of the rewritten bill is unknown to everyone but Trump and Congress, but it’s likely to cut taxes for corporations as well as the wealthy and middle classes. The bill was rewritten in an attempt to appeal to holdout Republican senators. The holdouts are no surprise, since Republicans are known for opposing government handouts paid for by taxes.
“People are really infuriated by it,” former Trump campaign advisor Steve Moore said.
One such holdout is Senator Marco Rubio of Florida, who threatened to vote against the bill if they did not expand the child tax credit.
“We have not seen bill text, and until we see if the [amount of the expanded credit] is significantly higher, then our position remains the same,” an anonymous Rubio spokeswoman said.
Negotiators proposed an increase to the tax credit, and House Ways and Means Committee Chairman Kevin Brady said that negotiations were complete. It is notable, though, that it’s currently unknown whether Rubio is on board, despite what he expressed over Twitter.
“Tax deal doubles #ChildTaxCredit from $1k to $2000,” said Rubio. “But for millions of #workingclass families only 55% of the $2K is available to them 2/2.”
President Trump, however, seems confident that the bill will pass despite the final holdouts.
“[The Senators] are great people and they want to see [the bill] done, and they want to see it done properly,” President Trump said.
This is my fourth year on the Bagpipe staff.
What is your dream job?
Psychologist
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President of Video Game Club, Reading Buddies tutor
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Quirky