• Home
  • Our Team
  • Contact Info
  • Advertise

AntAndsoNs

  • Money
  • Culture
  • Technology
  • Science
  • Sports
  • Global
  • Health Care
  • U.S.

Republicans have the votes to pass tax bill in Senate: McConnell

  • by Andrea Singleton
  • in Global
  • — Dec 2, 2017
Share:

"The [JCT] score ends the fantasy about magical growth, about unicorns and growth fairies showing that tax cuts pay for themselves", Democratic Senator Ron Wyden of OR said.

-Senate Republicans steamed toward passage of a $1.4 trillion tax bill Friday, overcoming eleventh-hour hitches in their drive to deliver a major legislative accomplishment to President Trump by Christmas. GOP leaders have been making major changes up to the last minute, including one that would roll back some of the tax cuts after six years to appease deficit hawks.

Another faction to be reckoned with: senators supporting millions of businesses whose owners report the firm's profits on their individual tax returns.

The Republican tax Bill would represent the biggest overhaul of the U.S. tax system since the 1980s.

US Senate Republicans said on Friday (Dec 1) they had gathered the votes needed to pass a sweeping tax overhaul, after last-minute negotiations to ease some senators' concerns about the Bill's impact on the federal deficit, health care and property taxes. The amendment would raise how much these businesses could deduct off the top of their tax bill, from the 17.4 percent now in the Senate bill to 23 percent.

Corker was skeptical, but voted in the Budget Committee on Tuesday to send the tax bill to the floor after saying he had assurances from Senate leaders the bill would be revised to include a "trigger" that would automatically raise taxes if anticipated economic growth did not materialize.

Sens. Mike Lee, R-Utah, and Marco Rubio, R-Fla., said the bill as now constructed gives too much of its benefits to corporations and that their plan to make the $2,000 credit fully refundable to low-income families "would level the playing field for families, while still kick-starting national investment and growth". He can afford to lose only two votes while counting on Vice President Mike Pence to break the tie.

In a dramatic turn, Democrats forced a vote on whether to return the measure to the Senate Finance Committee so it could be rewritten to ensure smaller deficits.

Corker has pushed to add automatic tax increases in future years if the package doesn't raise as much revenue as projected. It would slash the corporate tax rate, offer more modest cuts for families and individuals and eliminate several popular deductions.

Garrison Keillor fired by Minnesota Public Radio over allegations of improper behavior
MPR said the allegation stemmed from Keillor's conduct when he was producing and hosting " A Prairie Home Companion ". MPR said it retained an outside law firm to conduct an independent investigation into the allegation against Keillor.

"Other countries have learned how to use their tax codes to entice US businesses overseas, businesses around the globe, to their country - to move away from the United States to their countries' more competitive tax code", Republican Senator Cory Gardner of Colorado said.

The Arizona conservative announced in a statement on Friday that he would vote for the tax bill.

The corporate rates would become permanent, while the individual rate cuts would expire in 2025.

Because the House passed a different tax-slashing bill, the probable effect of Senate approval - provided the House doesn't pass the Senate's version - would be a conference committee in which lawmakers from both chambers fashion a compromise that could include elements of either bill.

Oklahoma's Lankford came aboard on Friday after having questioned whether tax revenues from economic growth would compensate for the expected increase in the national debt under the plan. That's far short of the $2 trillion promised by Treasury Secretary Steven Mnuchin.

Senate Armed Services Chairman John McCain, R-Ariz., arrives for votes on Capitol Hill in Washington, Monday evening, November 27, 2017.

The GOP has already secured support from two other key votes: Sens.

Senators were still grappling with several issues, including a provision to add a deduction for local property taxes.

A key House Republican said that any stopgap spending to avert a government shutdown December 8 should keep the government open into January instead of rushing work on an omnibus spending bill in hopes of beating a Christmas deadline. Both the Senate and House bills end deductibility of state and local tax income and sales tax. McCain said he would vote for the bill Thursday evening.

Share:

IN CASE YOU MISSED IT

  • Trump Uses "Racial Slur" During Event Honoring Native Americans
  • Marouane Fellaini OUT of Man Utd clash at Watford - journalist
  • UCLA names Chip Kelly new head football coach
  • YOU MAY ALSO LIKE...

    • IS teenager Shamima Begum will not be allowed into Bangladesh 2/21/2019
    • Bernie Announces Presidential Run By Blasting Out Personal Insults At Trump 2/20/2019
    • Trump delivers remarks on Venezuela in Miami 2/19/2019
    • Nigerian election postponed hours before polls due to open 2/18/2019
    • Astronaut Mark Kelly runs for John McCain’s Arizona Senate seat 2/15/2019
    • Kamala Harris: 'I Believe We Need to Legalize Marijuana' 2/15/2019
    • This Democrat Just Proved McConnell's Point About the Green New Deal 2/14/2019
    • Newborn with umbilical cord still attached found in middle of California roadway 2/13/2019
    • Newborn rescued after passerby hears her crying in a storm drain 2/13/2019
    • Greek parliament approves Macedonia's North Atlantic Treaty Organisation accession 2/11/2019

RELATED NEWS

Member of Trump team directed Russian Federation contacts, says Michael Flynn
In May, Trump fired Comey over "this Russian Federation thing with Trump and Russian Federation ", as Trump described it. Flynn rejected claims that he had committed treason, but said he accepts "full responsibility for his actions ." .
12/02/2017

Life for Florida man who shot officer while child was in auto
When questioned by a judge in a 30-minute hearing about the stunt, the officer refused to comment, the Times-Union reported . Rojas barricaded himself inside his home but was shot numerous times when cops saw him poke the gun through sliding doors.
12/02/2017

Instagrammer has 50 surgeries to look like Angelina Jolie
Both her nose and cheekbones appear to be in different places in several snaps, suggesting she has edited them. The girl took it very literally to look like her celebrity god Angelina Jolie .
12/01/2017

Undocumented immigrant not guilty of murder in polarizing San Francisco case
Under local sanctuary city rules, local law enforcement won't hold a person beyond the term of their incarceration. He had been deported five times before.
12/01/2017

Tax reform proposal has some area college students anxious
At SU, 875 graduate students receive tuition waivers, according to a "We're not going to get through", Teitelman said. GSG President Hossein Tavakoli says the proposed federal tax plan includes a huge tax hike on graduate students.
12/01/2017

EA Planning to Balance Star Wars Battlefront 2's 'Pay-to-Win' Microtransactions
The idea is that players pay real money to unlock a virtual "loot box" without knowing what kind of reward is inside. The best feeling in the world is that of Schadenfreude when you see a company like Electronic Arts suffering.
11/30/2017

CNN Grinches to Boycott White House Media Christmas Party
On Monday the department sued AT&T to block the merger with the justification that it will hurt competition and consumers. The White House Christmas Party, scheduled for Friday at 2 p.m., was slated to have punch and pie.
11/30/2017

'Wisdom of the Crowd' Cancelled CBS - Jeremy Piven Assault Allegations
Amy Meador also spoke to BuzzFeed News and alleged that Piven had assaulted her at her then-home in Laurel Canyon in 1995. The tests show that Piven "showed no reactions indicative of deception", and passed on his answers to all questions.
11/29/2017

Harvey Weinstein Now Accused of Sex Trafficking
An excited Noble, eager to share her show reel with Weinstein, brought her iPad along as the two went upstair. Harvey Weinstein has been accused of violating sex trafficking laws in a new lawsuit .
11/29/2017

The Substitute Phone wants to cure your smartphone addiction
Schillinger is expected to sell the Substitute Phones via his online store in the future for a yet to be disclosed price. Smartphones have invaded practically every facet of modern life and most people can no longer function without them.
11/28/2017

Boozy Breakdown! Naya Rivera 'Intoxicated' During Battery Arrest, Cops Say
According to the report , the incident started when police responded to a domestic situation at a Chesapeake home. After the footage was reviewed by the police, and accounts were taken from both spouses, Rivera was arrested.
11/28/2017

Microsoft Office for Android is Now Available on All Chromebooks
Editing without a subscription to Office 365 on devices with a 10.1-inch display or smaller is limited, however. For more people, the first time they've been able to use these apps on their Chromebooks at all, ever.
11/28/2017

Minutes after Trump attacked CNN
Former FBI director James Comey also seemed to weigh in on the president's words when he tweeted about the freedom of the press. Given the context, Trump's attack on CNN seems particularly timely. "It's not CNN's job to represent the USA to the world".
11/27/2017

Manchester City maintain 8-point lead with 2-1 win over Huddersfield
Raheem Sterling proved the difference maker as it was the England global who won the penalty which Aguero duly put past Lossl in the Huddersfield goal.
11/27/2017

Bali Volcano Shuts Down Flights, Sends Residents Scrambling to Safety
However, he said some airlines chose to cancel flights between Bali and Australia following the latest volcanic activity. Indonesia sits on the "Pacific Ring of Fire" and has more than 120 active volcanoes.
11/27/2017

    • Top picks

      • Nissan swaps United Kingdom for Japan to make new X-Trail model2/05/2019
      • Senate Leader McConnell cautions Pres. Trump about wall emergency2/04/2019
      • Ralph Northam Denies Racist Photo, Admits to Wearing Blackface2/04/2019
      • Cedric Marks escapes custody north of Houston, considered extremely unsafe2/04/2019
    • Weekly News

      • Top Venezuela general rejects Maduro's legitimacy, throws support behind interim president2/03/2019
      • Groundhog Day: Punxsutawney Phil says 'a lovely spring it shall be'2/03/2019
      • Russia suspends nuclear missile treaty after US move2/03/2019
      • Top Dem wants intel chiefs to stage intervention with Trump2/01/2019
    • Latest News

      • Urging Defections, Trump Administration Reportedly Holding Secret Talks With Venezuelan Military2/10/2019
      • Trump to press border wall fight in State of the Union speech2/09/2019
      • Ronan Farrow claims National Enquirer attempted to blackmail him2/09/2019
      • North Texas man killed when e-cigarette explodes2/07/2019
    • Home
    • Our Team
    • Contact Info
    • Advertise

    Thursday 21 February 2019

    © 2019 AntAndsoNs. ALL RIGHTS RESERVED.