Author Topic: House GOP tosses conservative playbook in bid for tax reform  (Read 410 times)

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Offline corbe

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House GOP tosses conservative playbook in bid for tax reform
« on: October 29, 2017, 06:16:40 pm »

House GOP tosses conservative playbook in bid for tax reform 

Lawmakers look willing to move beyond their party’s orthodoxy in bid for win ahead of 2018 midterms.

By BRIAN FALER
  | 10/29/2017 07:09 AM EDT

 
House Republicans are so desperate for a win on taxes that they’re agreeing to proposals that would have caused internal party warfare just a year or two ago.

They’re considering forgoing a big cut in the top income tax rate on the rich, offering moderate-income Americans so many tax breaks that many would be excused from paying taxes entirely and passing a potentially 1,000-page tax bill few have seen within a matter of weeks. Last week, they agreed to a budget that ignored their demands for deep cuts in federal spending just so they could pass a tax bill using a special procedure that enables them move forward without any Democratic votes.

It’s an open question whether Republicans will be as flexible when party leaders release their entire tax bill, due Nov. 1, and everyone can see exactly who will be the losers under their plan. They already have some internal battles, with Republicans from high-tax states fighting a proposal to dump a long-standing deduction for state and local taxes.

But for now, once-controversial proposals are barely causing a stir, a sign lawmakers are willing to move beyond their party’s orthodoxy on taxes and into a more freewheeling debate on how to rewrite the code.

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https://www.politico.com/story/2017/10/29/house-gop-tax-reform-debate-244282
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.

Offline corbe

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Re: House GOP tosses conservative playbook in bid for tax reform
« Reply #1 on: October 29, 2017, 06:23:24 pm »
Ryan loses key ally on tax reform after switch on breaks for homeowners
 
By LORRAINE WOELLERT
  | 10/28/2017 04:59 PM EDT
  |  Updated 10/28/2017 11:36 AM EDT

 
The National Association of Home Builders on Saturday accused House Speaker Paul Ryan of abruptly reversing course on a mortgage tax credit proposal and announced it would oppose the tax-reform proposal that GOP lawmakers expect to unveil on Wednesday.

The about-face by the housing-industry lobbying group strips Republicans of a powerful ally. Tax breaks for homeowners have long been one of the flashpoints of any attempt to rewrite the nation's tax laws.

"All the resources we were going to put into supporting are now going to go into opposing the plan," NAHB Chief Executive Officer Jerry Howard told POLITICO.

<..snip..>

https://www.politico.com/story/2017/10/28/home-builders-gop-tax-plan-244272
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.

Offline cato potatoe

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Re: House GOP tosses conservative playbook in bid for tax reform
« Reply #2 on: October 29, 2017, 11:39:30 pm »
Maybe I'm being cynical, but I will be floored if the senate passes any material tax simplification.  Every deduction has a blood sucking lobbyist like the homebuilder association.  Good luck explaining tax brackets, regulatory inefficiencies, or basic economics to a public school educated voter class. Hell, the before/after tax comparison app would be like TurboTax, which most people are already too dumb to use.