frozenmail.net
frozenmail.net December 13, 2017


House passes 2018 budget, taking a crucial step toward tax overhaul

06 October 2017, 06:14 | Christie Tate

Polarization Deepens in American Politics

I-Vt. the ranking member of the Senate Budget Committee is joined at right by Chairman Mike Enzi R-Wyo. as members vote on amendments during the markup of the Senate's fiscal 2018 budget resolution Thursday on Capitol

Katko, a second-term congressman, has long promised that he would not vote for any measure that repeals Obamacare without simultaneously passing a viable replacement.

The House's American Health Care Act would have reduced Medicaid spending by $880 billion and the Senate's Better Care Reconciliation Act would have chopped off about $750 billion over 10 years.

All of these specific disagreements, however, are just expressions of a more fundamental problem: Republicans want to cut tax rates on corporations and individuals, but they don't want to deal with the consequences of doing so.

The Senate Budget Committee is expected to pass a similar bill later in the day, with the resolution due to be brought to the Senate floor in two weeks.

House Republicans passed crucial budget legislation Thursday, setting aside months of intraparty squabbles to set the stage for an ambitious tax-overhaul bill they are planning to pass without Democratic help.

Sen. Bob Corker, R-Tenn., one of his party's budget hawks, warned that while he's supporting deficit-financed tax cuts for now as a way to deal with arcane Senate rules, he won't vote for the subsequent tax legislation if it blows a hole in the deficit.

"The Republican budget takes a shot at once in a generation tax reform", said Rep. Rob Woodall (R-GA), as Republicans noted that Congress has not approved a major tax reform bill since 1986. More oppose the tax plan than support it based on what they know now, though Republicans favor it by seven to one. The White House has said it would not negotiate its proposal to reduce the corporate tax rate to 20% and the top rate on so-called pass-through businesses to 25%.

The Boston Red Sox Clinch the AL East
This will be the Red Sox final chance to get back in this game as the Astros are three outs away from taking home a win in Game 1. Keys for the Red Sox on the series for the offense should be ambush early and don't let the starter settle in.

Matthew Gardner, a senior fellow at ITEP, says that backpedalling on SALT shows that Republicans are not willing to answer the "thorny questions" of how to fund tax reform.

This year, Republicans are using "budget reconciliation" to pass tax reform with a simple majority in the Senate.

"In the meantime, we are working with them, listening very closely to all our lawmakers, Republicans and Democrats alike, who are in high-tax states", he said. "If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain three percent economic growth", Mulvaney told Fox News. "The vision in there, if we were to follow it, really could change the trajectory of this country".

As he travels around the United States, let's hope Trump hears from the majority of Americans who reject the "trickle down" theory that tax cuts grow the economy and create jobs. "The trillions of dollars in tax cuts to corporations and the wealthiest Americans will be paid for on the backs of millions of hard-working Americans".

A spokeswoman for the Finance Committee said, "Chairman Hatch recognizes that every major provision within the tax code has an important constituency and effect".

Democrats blasted the sweeping spending cuts proposed by Republicans - more than $5 trillion over 10 years in the House plan and somewhat less in the Senate GOP measure - as an assault on middle-class families and the poor. The middle class is going to get it.

The Senate Budget Committee is marking up the 2018 budget resolution and, as those hearings continue this week, ranking Democrats say it would slash billions from Medicare and Medicaid. In order to pay for these huge tax breaks for millionaires and billionaires, this Republican budget makes savage cuts to the life and death programs that mean so much to ordinary Americans - above and beyond the disastrous cuts to Medicare and Medicaid.



Other News

Trending Now

Google Pixelbook features leaked ahead of launch, Home Mini speaker listed online
Coming to the pricing, Pixel 2 is expected to be priced at $650/$750 while the Pixel 2 XL is expected to be priced at $850/$950. Even if it is launched at the event, expect it to only start shipping to customers closer to the end of the year in the US.

Massive Equifax data breach is even worse than originally thought
Equifax announced Monday that cybersecurity firm Mandiant completed the forensic portion of its investigation of the hack. Smith said he would expect Equifax to "cooperate" with "particular legislation that arises out of this horrific breach".

England lucky to have Kane, says Hart
However, Southgate insists Kane has not been permanently awarded the captaincy and any decision over England's long-term captain is now on hold.

Yankees host Twins in AL wild-card game
After only six batters, reliever-extraordinaire, Chad Green entered the contest earlier than anyone could have ever anticipated. Just as in 2009, and all those other years where they have faced the Yankees in the postseason, the Twins ended up the losers.

Mike Tomlin, Ben Roethlisberger both take issue with Antonio Brown's gatorade toss
At age 35 Roethlisberger still plays at a high level when he's healthy, but he's struggled to stay on the field for all 16 games. Pittsburgh's defense recorded four sacks, two interceptions, and one forced fumble. [MONDAY] Kansas City Chiefs (-7) vs.

Argentina's World Cup hopes hang in balance after draw with Peru
Elsewhere, Uruguay failed to break down a stubborn Venezuela in a 0-0 draw that edged them closer to qualification. The fifth-place team can advance by winning an intercontinental playoff against Oceania champion New Zealand .

'This Must Stop': Connecticut Reacts To Deadly Las Vegas Mass Shooting
There were new questions about whether the House would vote soon on legislation that would make it easier to buy gun silencers. Asked what Congress is doing to try and prevent such tragedies in the future, Ryan cited "mental illness reform".

The Reason Why Fox Sports Isn't Airing the NFL's National Anthem Today
Most of the standing players had their hands on their hearts and the other on the shoulder of their teammate in front. Fans go to watch a football game, if they want to see or hear protesters then they can go to one out on the streets.

Is 'SNL' Live Tonight? When To Watch 'Saturday Night Live' Fall Premiere
Last season the series experienced some of its highest ratings in more than two decades thanks to jokes aimed at the White House. Ryan wore a denim jacket, blue chinos and brown brogues while Eva wore a graphic printed dress and platform sandals.

New Daydream View headsets flaunt new colors and texture
With a Google Pixel handset in your pocket, you can tap and hold the Pixel Buds' right earbud to activate Google Assistant . Google also unveiled several other new gadgets including the Pixelbook , Google Home Mini and the Pixel Buds .