House Passes Final GOP Tax Bill

UPDATE: The star-crossed story continues:

The House is expected to have to vote again Wednesday on Republicans’ sweeping tax legislation after several provisions were ruled out of order in the Senate.

However, it is not likely to stop the momentum for long, with the legislation still on track to be delivered to President Donald Trump this week. The Senate is expected to vote on the bill Tuesday night after striking the provisions, which relate to expanding tax-advantaged college savings accounts and taxing college endowments.

The stumble is an embarrassment for Republicans, who just hours before were celebrating on the House floor and getting kudos from Trump for passing the landmark bill and sending it to the Senate. It also plays into the hands of Democrats who have been saying the speed with which Republicans are pushing the plan through is a recipe for chaos.

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Just in time for Christmas, as the Denver Post’s Mark Matthews reports:

“While distractors will spell every myth and scare tactic under the sun, at the end of the day, this bill will help working and middle-class families by doubling both the child tax credit and the standard deduction,” said [Rep. Mike] Coffman in a statement prior to the vote.

“This pro-growth and pro-family bill will put more money into the pockets of hard-working Coloradans,” he added.

The tax measure, which has flown through both houses of Congress in recent weeks, has attracted widespread opposition for the tax breaks it provides to corporations and the wealthy, as well as the $1 trillion it’s expected to add to the federal deficit.

No  taking it back now–apparently none of the changes to the bill, including those that undid key defenses Rep. Mike Coffman himself had offered for voting yes, were enough to persuade Coffman to stand in the way of paying back the donors. With this vote the U.S. House in 2017 can finally lay claim to something resembling an accomplishment. So there’s that.

Now the voters will judge Coffman’s actions, and based on the polling that doesn’t look promising.

22 Community Comments, Facebook Comments

  1. bullshit!bullshit! says:

    Kiss that House majority goodbye.

    Mike Coffman, we're coming for you in 2018.

  2. ModeratusModeratus says:

    Vulgarity means you're losing…..

  3. DavieDavie says:

    E.J. Dionne in the Washington Post sums it up this way:

    The bill’s champions claim that the big corporate tax cut will lead to massive new investment. But, as former New York City mayor Michael Bloomberg (no enemy of business) pointed out, corporations are already “sitting on a record amount of cash reserves: nearly $2.3 trillion.” Bloomberg added: “It’s pure fantasy to think that the tax bill will lead to significantly higher wages and growth.”

    And imagine: The “Make America Great Again” crowd appears to have designed a corporate tax system that creates new incentives to “shift profits and operations overseas,” as former Obama administration economic adviser Gene B. Sperling argued in a careful analysis. Trump probably doesn’t even know this.

    The key to corruption is operating in the dark. This bill is a mess of opaque provisions that almost no one outside the ranks of tax lobbyists understands — because many of these giveaways were written or inspired by lobbyists themselves.

    Needlessly rushing a massive special-interest tax bill through Congress is the antithesis of good government. This doesn’t seem to matter anymore, even to Republicans who built reputations as champions of moderation, openness and rectitude.

  4. ModeratusModeratus says:

    On second thought if they're giving the finger to the liberals who have lied about this bill from the beginning, great! In two years the people will see the proof in their paychecks and your lies will be over.

  5. DavieDavie says:

    Moldy, unless you are a multimillionaire (yeah, right), read 'em and weep:

    Michael Linden‏ @MichaelSLinden

    FollowFollow @MichaelSLinden

     

    By now, most Americans know this tax bill is terrible. We know it's unfair, it's a giveaway to the rich, it cuts health care & puts other services at risk. What hasn’t sunk in yet is how it could also harm the economy, costing jobs and prosperity. I count at least 5 ways

    • Michael Linden‏ @MichaelSLinden Dec 18

      More

      There you go. 5 ways the tax bill is terrible for the economy, beyond its unfairness & cruelty: 1.↑ inequality = ↓ growth 2.↑ incentive for CEO & Shareholder hoarding 3.Aggregate demand ↓ 4.Offshoring ↑ 5.Economic distortions ↑ /17

      7 replies264 retweets398 likes

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       7 

      Retweet

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    • Michael Linden‏ @MichaelSLinden Dec 18

      Just like the tax cuts in Kansas failed to produce the promised economic boost, this tax bill is going to further skew the economy in favor of those who already have the most, while leaving everyone else behind. As if you needed another reason to hate this bill. /end

    By 2027, 80% of the total cuts go to, wait for it — the 1%

  6. Whatever happened to having to vote on the committee bill without any changes or lose reconciliation status?

    Whatever happened to a process deliberative enough that the text could have been cleared first? (Whatever happened to conference committees where both sides had representation?)

    • JohnInDenver says:

      Republicans will eventually have House and Senate vote on a bill that conforms to Senate's Byrd rules — probably completed tomorrow or Thursday at the latest.  As to what happened to the process… it got hijacked because they have majorities and enough carrots, sticks and promises of fairy dust to keep their majorities solid enough to win.

  7. RepealAndReplace says:

    Where's Waldo?

    https://www.nytimes.com/2017/12/19/us/politics/tax-bill-vote-congress.html?action=click&contentCollection=Politics&module=RelatedCoverage&region=EndOfArticle&pgtype=article

    Look at this photo of the Senate GOP leadership. There are a woman, a man behind her who is obviously not Cory Gardner, Tim Scott, Ted Cruz, John Thune, the head of a man (most likely Orrin Hatch), Yertle, John Barrasso,  Dean Heller, Cornyn, Roy Blunt, the head of another man who is probably not Gardner, and Lisa Murkowski.

    Where is the chair of the RNSC?  Did he not want to be photographed with the bridge crew of the Titanic? Not everything Gardner does is evil.

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