As the Washington Post reports, Congressional Republicans are indicating that the House and Senate have come to some sort of agreement on a tax plan that could (potentially) make it through both chambers to the desk of President Trump:
House and Senate Republican leaders have reached an agreement in principle that would lower the corporate tax rate to 21 percent beginning in 2018, a person briefed on the discussions said, part of a compromise $1.5 trillion tax plan they hope to vote into law by next week.
The agreement would also lower the top tax rate for families and individuals to 37 percent, a change that would deliver a major tax cut for upper-income households…
…It’s unclear if all Senate Republicans support the changes, and Republicans can only afford to lose one GOP more vote if they hope to pass the agreement next week, as Sen. Bob Corker (R-Tenn.) already opposes the measure. [Pols emphasis]
Sen. Susan Collins (R-Maine) has expressed concern about lowering the top tax rate, and Sen. Marco Rubio (R-Fla.) has complained that Republicans did not do more to further expand the Child Tax Credit. But neither has said whether they would oppose the bill.
Republican leaders seem to be fairly confident that they have an agreement in place, though it’s not yet clear if they have the votes to support a final proposal that is expected to be approved by a “conference committee” made up of leaders from both chambers. Staffers are also still working to finalize a draft bill, which would need to be examined by the Joint Committee on Taxation to ensure that it abides by Congressional budget rules.
Republicans are hoping to hold a vote on their wildly-unpopular tax plan sometime next week — before Alabama Democrat Doug Jones is sworn in to replace Republican Luther Strange in the Senate.
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No one expects Colorado Pols to like it.
Hey loser general. Apparently nobody expects the American people to like it either. FYI the people hate it because it sucks.
Kinda like how you lost last night because your candidate sucks.
Moldy, your party is bent on self-destruction. That's fine, but the problem is, you want to take the rest of us with you. Voters, as even Alabama Republicans now realize, are eager to kick your butts out of office.
I predict the bill will be even more unpopular once, you know, there is an actual bill that can be evaluated. The details will be stunning.
Here's what Paul Krugman has to say:
So the Republicans are desperate for a win, are they?
Oh and this too:
“Republicans are desperate for a win . . .”
Nothing says "looking out for everyday folks" like cramming in a last-minute reduction in the tax rate for millionaires.