Boots & Sabers

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1529, 13 Dec 17

GOP Reaches Compromise on Tax Bill

So far, so good.

House and Senate Republican leaders have reached an agreement in principle that would lower the corporate tax rate to 21 percent beginning in 2018, several people briefed on the plan said, a central component of the $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 from 39.6 percent to at least 37 percent, a change that would deliver a major tax cut for upper-income households.

I thought that the Moore defeat would raise the fear of Senate Republican defections would push the House to just pass the Senate version. I’m pleasantly surprised that not only does it look like the caucus is hanging together, but that what we know of the compromise looks better than expected.


1529, 13 December 2017


  1. Pat

    A bill more unpopular than Obamacare brought to us by the party of fiscal responsibility. Just to claim a win. Shame.

  2. billphoto

    Amazing that not one Democrat saw any benefit for their constituents.  Can you say partisan?

  3. Pat

    It’s about as amazing as not one Republican saw any benefit in Obamacare for their constituents. I guess both sides are guilty of partisanship. But that’s the way the blood sport of politics is played these days.

  4. Paul

    If you don’t want to use the tax cut to finally remove the wheels from your mobile home, you’re free to donate it to the US Treasury.

  5. Pat

    What’s wrong with living in a mobile home? 20 million Americans live in one. That’s 6% of the population, with the majority voting Republican.

  6. Major Booris

    Rubio’s now holding out for the child tax credit and Mike Lee’s  suddenly ‘undecided’, while Collins and Corker are only getting wobblier.

    Boy, Alabama sure didn’t change anything at all.

  7. Pat

    The child care credit is BS. It’s a way to buy support from the public. What about those without children.

  8. Le Roi du Nord

    I’d like to know why the corporate tax credits are permanent, yet the alleged benefits to the middle class are short-lived?

  9. Owen

    The dirty little secret is that nothing is permanent. This Congress can’t bind the actions of a future Congress. So at any time, the corporate taxes could be changed again and so can the personal taxes. The only reason they do it this way to to satisfy self-inflicted arbitrary rules about fitting into a budgetary box in an arbitrary time window.

  10. Le Roi du Nord

    Then why not put the cuts to corp taxes and to individuals on the same schedule and declining cuts?

  11. billphoto

    Personally, if Congress REALLY wanted to impress, cutting $6.8 billion in pork would be a good start. Credit – Pig Book

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