It's amazing they've been able to pander that whole "lower taxes will make corporations invest more" for this long.
I bet that 25 percent was also whining about the budget deficit not too long ago.
2017 GOP Tax Cut & Jobs Act: Republican majorities to vote on extension in 119th Congress before expiration on 12/31/25
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It's amazing they've been able to pander that whole "lower taxes will make corporations invest more" for this long.
I bet that 25 percent was also whining about the budget deficit not too long ago.
Futuristic Eskimo
All Star
Republican Sen. Ron Johnson will oppose current GOP tax bill
Published 41 Mins Ago Updated 3 Mins AgoCNBC.com
Sen. Ron Johnson opposes Republican tax bill 11 Mins Ago | 00:24
Republican Sen. Ron Johnson will oppose the Senate tax plan as written, his office confirmed Wednesday.
The lawmaker from Wisconsin is the first GOP senator to explicitly say he will not back the tax proposal. Johnson told The Wall Street Journalthat the bill benefits corporations more than other businesses.
"If they can pass it without me, let them," he told the newspaper, which first reported his opposition. "I'm not going to vote for this tax package."
Johnson's opposition adds uncertainty to the GOP goal of chopping tax rates on businesses and individuals by the end of the year. Other Republican senators have raised concerns about budget deficits fueled by tax cuts, though none other than Johnson have publicly opposed the bill, yet.
Republicans hold 52 of 100 seats in the Senate. If all Democrats and independents oppose it, the GOP can only lose two votes and still pass the plan with the simple majority needed under special budget rules.
GOP senators hope to pass their bill as soon as the week after Thanksgiving.
Senate Finance Committee Chairman Orrin Hatch, R-Utah, released a revised version of the bill Tuesday night. Among the biggest changes, it would make most individual rate cuts expire after 2025, while the corporate tax rate would get reduced permanently
It also would effectively repeal the Obamacare individual mandate. The move gives senators more room to comply with budget rules, but it could lead to an estimated 13 million more people uninsured and increase average health-care premiums, according to a Congressional Budget Office estimate.
In the Journal interview, Johnson expressed concerns about the treatment of pass-through businesses, which pay individual income tax rates. The Senate bill would give those businesses tax breaks, while the House plan cuts the rate they pay to 25 percent.
The Republican from Wisconsin also told the newspaper that he has felt shut out of the process of making the bill, calling it "offensive."
Programming note: Johnson will appear on CNBC's "Squawk Box" at 7:30 a.m. on Thursday.
This garbage has no chance
- Republican Sen. Ron Johnson of Wisconsin will oppose the current Senate GOP tax plan.
- He comes the first Republican senator to explicitly say he will not back the bill.
- GOP senators hope to pass it as soon as the week after Thanksgiving.
Published 41 Mins Ago Updated 3 Mins AgoCNBC.com
Sen. Ron Johnson opposes Republican tax bill 11 Mins Ago | 00:24
Republican Sen. Ron Johnson will oppose the Senate tax plan as written, his office confirmed Wednesday.
The lawmaker from Wisconsin is the first GOP senator to explicitly say he will not back the tax proposal. Johnson told The Wall Street Journalthat the bill benefits corporations more than other businesses.
"If they can pass it without me, let them," he told the newspaper, which first reported his opposition. "I'm not going to vote for this tax package."
Johnson's opposition adds uncertainty to the GOP goal of chopping tax rates on businesses and individuals by the end of the year. Other Republican senators have raised concerns about budget deficits fueled by tax cuts, though none other than Johnson have publicly opposed the bill, yet.
Republicans hold 52 of 100 seats in the Senate. If all Democrats and independents oppose it, the GOP can only lose two votes and still pass the plan with the simple majority needed under special budget rules.
GOP senators hope to pass their bill as soon as the week after Thanksgiving.
Senate Finance Committee Chairman Orrin Hatch, R-Utah, released a revised version of the bill Tuesday night. Among the biggest changes, it would make most individual rate cuts expire after 2025, while the corporate tax rate would get reduced permanently
It also would effectively repeal the Obamacare individual mandate. The move gives senators more room to comply with budget rules, but it could lead to an estimated 13 million more people uninsured and increase average health-care premiums, according to a Congressional Budget Office estimate.
In the Journal interview, Johnson expressed concerns about the treatment of pass-through businesses, which pay individual income tax rates. The Senate bill would give those businesses tax breaks, while the House plan cuts the rate they pay to 25 percent.
The Republican from Wisconsin also told the newspaper that he has felt shut out of the process of making the bill, calling it "offensive."
Programming note: Johnson will appear on CNBC's "Squawk Box" at 7:30 a.m. on Thursday.
This garbage has no chance
Republican Sen. Ron Johnson will oppose current GOP tax bill
Jacob Pramuk | @jacobpramuk
- Republican Sen. Ron Johnson of Wisconsin will oppose the current Senate GOP tax plan.
- He comes the first Republican senator to explicitly say he will not back the bill.
- GOP senators hope to pass it as soon as the week after Thanksgiving.
Published 41 Mins Ago Updated 3 Mins AgoCNBC.com
Sen. Ron Johnson opposes Republican tax bill 11 Mins Ago | 00:24
Republican Sen. Ron Johnson will oppose the Senate tax plan as written, his office confirmed Wednesday.
The lawmaker from Wisconsin is the first GOP senator to explicitly say he will not back the tax proposal. Johnson told The Wall Street Journalthat the bill benefits corporations more than other businesses.
"If they can pass it without me, let them," he told the newspaper, which first reported his opposition. "I'm not going to vote for this tax package."
Johnson's opposition adds uncertainty to the GOP goal of chopping tax rates on businesses and individuals by the end of the year. Other Republican senators have raised concerns about budget deficits fueled by tax cuts, though none other than Johnson have publicly opposed the bill, yet.
Republicans hold 52 of 100 seats in the Senate. If all Democrats and independents oppose it, the GOP can only lose two votes and still pass the plan with the simple majority needed under special budget rules.
GOP senators hope to pass their bill as soon as the week after Thanksgiving.
Senate Finance Committee Chairman Orrin Hatch, R-Utah, released a revised version of the bill Tuesday night. Among the biggest changes, it would make most individual rate cuts expire after 2025, while the corporate tax rate would get reduced permanently
It also would effectively repeal the Obamacare individual mandate. The move gives senators more room to comply with budget rules, but it could lead to an estimated 13 million more people uninsured and increase average health-care premiums, according to a Congressional Budget Office estimate.
In the Journal interview, Johnson expressed concerns about the treatment of pass-through businesses, which pay individual income tax rates. The Senate bill would give those businesses tax breaks, while the House plan cuts the rate they pay to 25 percent.
The Republican from Wisconsin also told the newspaper that he has felt shut out of the process of making the bill, calling it "offensive."
Programming note: Johnson will appear on CNBC's "Squawk Box" at 7:30 a.m. on Thursday.
This garbage has no chance
Collins probably won't. Another one and its dead.
If they fail to pass tax cuts infused with Obamacare repeal, the fukkery of their donors not funding them next year will be
Bleed The Freak
Superstar
Bleed The Freak
Superstar
So why do republicans keep bailing out on passing their agenda?. I doubt they actually give a shyt about the american people 
. Are they just trying to wait out the midterms before they pass anything really major?. Those donors have to be extremely pissed off at this point.
. Are they just trying to wait out the midterms before they pass anything really major?. Those donors have to be extremely pissed off at this point.
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So why do republicans keep bailing out on passing their agenda? i doubt they actually give a shyt about the american people
There's considerable pressure from their regular constituents.
But the pressure from the donors is why this stuff won't die.
I dislike Bill Kristol very much as another neocon nut... but he's damn right here
88m3
Fast Money & Foreign Objects
I think you're going to see Republicans in tax heavy states start to run for the exit.
There will be a bloodbath if this thing passes.
In NY the few Republican congressmen are getting torn to shreds in the press if they don't get in line and have been since the house version came out.
As wealthy as their donors may be they're really alienating people with this tax bill and it's also bad for many businesses. If I had to sum up this tax bill it's an attack on the wealth of everyone but the 1%.
Most American's wealth is in their home(s) by eliminating deductions for taxes and mortgage interest you're essentially fleecing them of their only asset and potentially their largest tax deduction.
The bill also isn't debt neutral for deficit hawks but we all know conservatives are spineless.
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GOP Tax Plan Puts Lawmakers in Bind Over Medicare Spending Cuts
Senate Republicans may face a political problem in the final push for their tax-cut plan, and they might need Democrats to help fix it.
The Congressional Budget Office says the $1.5 trillion tax-cut proposal would trigger $25 billion in automatic spending cuts next year to Medicare, plus another $111 billion in reductions to other programs, including farm subsidies. That’s because of a law known as Paygo.
While some conservative Republicans would welcome the cuts, moderates in the party are likely to balk -- and President Donald Trump has promised repeatedly not to cut Medicare.
Waiving the automatic cuts could take 60 votes in the Senate, requiring support from at least eight Democrats in a chamber Republicans control 52-48.
The GOP could try to waive the cuts as part of the tax bill -- although that could anger the party’s deficit hawks -- or they could promise to do it later, which could worry moderates who in the meantime would be voting for a bill that cuts benefits to senior citizens.
Here’s the dilemma for Democrats: Should they help waive the spending reductions, even though that would help the GOP enact the tax cuts? Or should Democrats continue doing all they can to make the tax-cut plan difficult for Republicans to pass, even though recipients of Medicare and other programs would suffer and they could be blamed?
A number of Democratic and Republican lawmakers said Wednesday they weren’t aware of the issue.
If the Republicans enact the tax bill without the waiver, the matter would likely become part of a chaotic year-end pileup of legislation, including reauthorizing children’s health insurance and funding the government to avoid a shutdown.
If Democrats sense Republican need their votes to waive the cuts, they could use that as a bargaining chip on the spending bill to keep the government open after Dec. 8.
"Why should we go along with it?" said John Yarmuth of Kentucky, the top Democrat on the House Budget Committee. “They will need us just like they need us to keep the government open.”
Yarmuth and others are seeking immigration policy changes and domestic spending increases in that bill.
Senate Republicans may face a political problem in the final push for their tax-cut plan, and they might need Democrats to help fix it.
The Congressional Budget Office says the $1.5 trillion tax-cut proposal would trigger $25 billion in automatic spending cuts next year to Medicare, plus another $111 billion in reductions to other programs, including farm subsidies. That’s because of a law known as Paygo.
While some conservative Republicans would welcome the cuts, moderates in the party are likely to balk -- and President Donald Trump has promised repeatedly not to cut Medicare.
Waiving the automatic cuts could take 60 votes in the Senate, requiring support from at least eight Democrats in a chamber Republicans control 52-48.
The GOP could try to waive the cuts as part of the tax bill -- although that could anger the party’s deficit hawks -- or they could promise to do it later, which could worry moderates who in the meantime would be voting for a bill that cuts benefits to senior citizens.
Here’s the dilemma for Democrats: Should they help waive the spending reductions, even though that would help the GOP enact the tax cuts? Or should Democrats continue doing all they can to make the tax-cut plan difficult for Republicans to pass, even though recipients of Medicare and other programs would suffer and they could be blamed?
A number of Democratic and Republican lawmakers said Wednesday they weren’t aware of the issue.
If the Republicans enact the tax bill without the waiver, the matter would likely become part of a chaotic year-end pileup of legislation, including reauthorizing children’s health insurance and funding the government to avoid a shutdown.
If Democrats sense Republican need their votes to waive the cuts, they could use that as a bargaining chip on the spending bill to keep the government open after Dec. 8.
"Why should we go along with it?" said John Yarmuth of Kentucky, the top Democrat on the House Budget Committee. “They will need us just like they need us to keep the government open.”
Yarmuth and others are seeking immigration policy changes and domestic spending increases in that bill.
:damnshakebp:
You know, I was getting ready to buy my first house this fall. I'm glad I waited.
If the economy tanks, I don't want that burden on my shoulders.
If the economy tanks, I don't want that burden on my shoulders.