timberland nellie boots House Forced To Revote On GOP Tax Bill Wednesday
Senate Republicans have passed the most sweeping rewrite of the nation’s tax laws in more than three decades, setting the stage for a final House vote Wednesday.
The House passed the bill earlier Tuesday. But the Senate had to make minor changes so the bill would comply with Senate budget rules.
The tax cuts total nearly $1.5 trillion over the next decade and would take effect in January. Workers would start to see changes in the amount of taxes withheld from their paychecks in February.
Democrats say three provisions in the Republican $1.5 trillion tax bill violate Senate rules and will likely be removed before that chamber votes on the measure.
The House approved the legislation Tuesday. But this means the House will have to vote again on the legislation once it’s been amended and approved by the Senate.
Senate passage was expected Tuesday night or early Wednesday. GOP House Majority Leader Kevin McCarthy’s office says the House would reconsider the bill Wednesday morning and send it to President Donald Trump for his signature.
Democrats said the Senate parliamentarian had found three items that violated Senate rules.
These included one provision that would let families use tax advantaged 529 accounts for home schooling expenses.
The problem was revealed by Vermont independent Sen. Bernie Sanders and Oregon Democrat Ron Wyden.
Gleeful Republicans on Tuesday muscled the most sweeping rewrite of the nation’s tax laws in more than three decades through the House. House Speaker Paul Ryan dismissed criticism of the widely unpopular package and insisted “results are what’s going to make this popular.”
The vote, largely along party lines, was 227 203 and capped a GOP sprint to deliver a major legislative accomplishment to President Donald Trump after a year of congressional stumbles and non starters.
Senate Majority Leader Mitch McConnell, R Ky., said the Senate would vote Tuesday evening, sending the legislation to Trump for his signature. economy, providing steep tax cuts for businesses and the wealthy, and more modest tax cuts for middle and low income families. It would push the national debt ever higher.
The standard deduction used by most families would be nearly doubled, to $24,000 for a married couple, while those who itemize would lose some deductions.
“We’re delivering a tax code that provides more jobs, fairer taxes and bigger paychecks to Americans across the country,” said Rep. Kevin Brady of Texas, Republican chairman of the tax writing Ways and Means Committee. “Our local job creators will see the lowest rates in modern history so they can invest more in their workers and in their future.”
Democrats called the bill a giveaway to corporations and the wealthy, providing little if any tax help to the less than well to do and no likelihood that business owners will use their gains to hire more workers or raise wages.
And the Republicans’ contention that the bill will make taxes so simple that millions can file “on a postcard” an idea repeated often by the president was simply mocked.
“What happened to the postcard? We’re going to have to carry around a billboard for tax simplification,” declared Rep. Richard Neal of Massachusetts, the top Democrat on the Ways and Means Committee.
Tax cuts for corporations would be permanent while the cuts for individuals would expire in 2026 in order to comply with Senate budget rules. The tax cuts would take effect in January. Workers would start to see changes in the amount of taxes withheld from their paychecks in February.
During debate, decorum on the House floor was fleeting as two New Yorkers a Democrat and a Republican voiced their opinions on the bill. Rep. Rep.
The bill is unpopular among the public, and Democrats plan to campaign against it in next year’s congressional elections. Senate Democrats posted poll numbers on the bill on a video screen at their Tuesday luncheon.
“This bill will come back to haunt them, as Frankenstein did,” said House Democratic leader Nancy Pelosi.
Not so, said Ryan, who has worked for years on tax overhaul.
“When we get this done, when people see their withholding improving, when they see jobs occurring, when they see bigger paychecks, a fairer tax system, a simpler tax code, that’s what’s going to produce the results,” said Ryan, R Wis.
The bill would slash the corporate income tax rate from 35 percent to 21 percent. The top tax rate for individuals would be lowered from 39.6 percent to 37 percent.
It scales back a popular deduction for state and local taxes, repeals a key tenet of Barack Obama’s Affordable Care Act and allows drilling in the Arctic National Wildlife Refuge.