Thread: Under the Fog of Kavanaugh, House Passes $3.8 Trillion More in Tax Cuts

Under the Fog of Kavanaugh, House Passes $3.8 Trillion More in Tax Cuts

By Glenn Fleishman September 28, 2018

With attention fixed on the Brett Kavanaugh confirmation hearings, the U.S. House of Representatives passed a new $3.1 trillion tax cut on Friday. The vote was 220 to 191, including three Democrats.
The down-to-the-wire 2017 tax act passed in late December contained a mix of permanent and temporary changes that had to result in a net increased cost that fell within a structural limit of $1.5 trillion that allowed the Senate to approve the bill with a simple majority.
The House’s new bill takes effect starting in 2025, and would add $600 billion to the national debt within the next decade, and then $3.2 trillion in the 10 years after that, according to Howard Gleckman of the Tax Policy Center.
Despite the House vote, it is unlikely the Senate will take up the legislation. The first round of tax cuts landed with a thud, with even a leaked Republican National Committee poll—reported on by Bloomberg News—showing American voters thought it benefited “large corporations and rich Americans” by an overall 2-to-1 margin and the same margin among independent voters.
Without special rules in place, the Senate would vote under normal procedures, which can require 60 senators’ votes to pass a bill that is heavily opposed.



http://fortune.com/2018/09/28/house-...e=facebook.com

Good!!!

I wish they could get it passed in the Senate. It's possible, give it a try. This is the bill that makes the individual tax cuts permanent and does other things to make businesses more successful, invest more, and create more good jobs which benefits everyone.

The best alternative of course is the FairTax, freedom, choice, liberty, more than ample revenue for government as Social Security and Medicare. Rebates for those who want them and excludes illegal aliens. As a consumption tax, it taxes all imports leveling the playing field for American businesses in ways much more impactful that new trade deals although they help a lot.