GOP Plodding Forward on Tax Reform/ Some continuity between the House and Senate plans, but rumblings of discontent from several Republicans. – By Political Editors (patriotpost.us) / Nov. 9, 2017
As the GOP stumbles forward on building some form of tax reform bill, one of the latest proposals to be banded about is repealing the ObamaCare mandate. Citing Congressional Budget Office numbers, House Republicans estimate that ending the mandate would save the government some $338 billion over the next decade, helping to offset the lost revenue from tax cuts. However, it’s clear that not all House Republicans are on board with the plan as several publicly expressed their misgivings, while Democrats trotted out their usual objections that the plan favored the rich.
Meanwhile, Senate Republicans released some key components of their desired tax plan with a proposal that President Donald Trump’s heavily touted corporate tax cut be delayed until 2019. Both House and Senate versions would enact a corporate tax rate of 20%, down from the current 35%, though the House version would put it in place next year. Both the House and Senate plans share the same standard deduction and increase in the child tax credit.
The bigger issue is this: The perception among the electorate is that Republicans are failing to lead and are on their way to another massive failure similar to that of repealing ObamaCare. If Republicans can’t get their act together and pass meaningful comprehensive tax reform legislation, then there’s a good chance they will find themselves in the minority come 2018. Sadly, it seems there are a number of them that would prefer it to be that way.
https://patriotpost.us/articles/52347
