GOP Passes Historic Tax Plan

House Republicans on Wednesday voted for the second time in two days to pass a major tax overhaul, sending the $1.5 trillion tax cut to President Trump, as promised, just before Christmas.

"With the new tax system we will deliver today, things will change for the better, and they will change immediately," said the bill's author, Ways and Means Chairman Kevin Brady, R-Texas, on the House floor.

The House passed the bill 224-201, after passing it Tuesday 227-203. Twelve Republicans voted "no" in both votes.

Wednesday’s vote was a formality, as all the drama already played out Tuesday afternoon when Speaker Paul Ryan first proved he had the votes to pass the bill.

A re-vote was required because several small provisions of the bill were stripped out to accord with Senate rules just before the upper chamber voted for passage in the early hours of Wednesday morning. The two versions of the bill have to be exactly the same, requiring the House to vote again on the Senate-passed version.

The Senate procedure that allowed Republicans to advance and pass the bill with just a simple majority, known as the budget reconciliation process, also requires that provisions have primarily budgetary effects, which led the Senate Parliamentarian to strip out the provisions.

The changes were minimal, but Democrats mocked Republicans nonetheless for trying to rush the bill through so quickly that it required a second House vote.

"We're here this morning solely because of a mistake," said Lloyd Doggett, D-Texas. "This is the blunder rule, and this is not the first big blunder in this rule."

Brady put a positive spin on the re-vote. "With this vote, it’ll be the House, the people's house, that officially sends this legislation to President Trump’s desk," the Texas lawmaker said.

One of the changes was the name of the bill, which had to go under Senate rules. The former Tax Cuts and Jobs Act now has a more bland name to reflect that it's a budget reconciliation measure passing under privileged rules in the Senate.

The Senate also stripped out language that would have protected Berea College in Kentucky from a new endowment tax, and a Sen. Ted Cruz-authored provision that would have allowed the use of 529 college savings plans for homeschooling expenses. The Texas senator railed against Democrats late Tuesday on the Senate floor and on Twitter for making the change.

Despite these changes, the major revision of the tax code is now set for Trump’s signature with a number of major conservative victories. Not only will the bill revamp the tax code, but it will also repeal Obamacare’s individual mandate and open up the Arctic National Wildlife Refuge for oil drilling.

Democrats focused on some smaller tax increases that taxpayers would face a decade from now, and accused Republicans of robbing the middle class to pay for corporate tax cuts.

"Today Republicans take their victory lap for pillaging the middle class to benefit the powerful and the privileged," said Democratic Leader Nancy Pelosi.

The White House was expected to celebrate congressional passage of the bill Wednesday afternoon. But Trump may wait until January to sign the bill, though, to avoid a tricky vote on automatic spending cuts, an aide said Wednesday morning.
http://www.washingtonexaminer.com/c...trump-after-second-house-vote/article/2644033

As usual the MSM is distorting the facts and reporting that Americans taxes will go up, the middle class is going to get hit hard with this bill, yada yada yada. Facts: 8 in 10 Americans will pay lower taxes next year. And don't give me this bullshit about the bad polling. Once Americans see the benefits of this bill the polling will change. Bet on it. The economy is rocking and rolling right now and this tax plan is going to put the economy on steroids. You're going to see jobs come back from overseas, you're going see more investment by American companies as they return profits from overseas, you're going see more Americans have more $ in their pockets. I wouldn't be surprised to see GDP growth upwards of 4%. I'm usually never wrong about these things
 

xfire

New Twitter/X @cxffreeman
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Welp, I've already personally seen the benefit of this tax reform in the form of a huge bonus. Ka-ching. Thank you President Trump and the GOP in congress.

Hold on folks, it only gets excellent from here.
 
Remind me - unless businesses flock back to the U.S. in droves - how are we going to pay for this thing?
By cutting healthcare to millions of americans, including children :


Trump Wins Tax Cuts, Kids Lose Health Insurance

Republican lawmakers [...] failed to advance a bill that would re-authorize a program providing healthcare to 9 million children
https://www.thedailybeast.com/trump-celebrates-a-tax-win-but-a-child-healthcare-crisis-looms

Screwing children to the benfit of the top 1%, what a shame...
 
Remind me - unless businesses flock back to the U.S. in droves - how are we going to pay for this thing?

It pays for itself. Let me explain how economics works. Lower taxes leads to higher economic growth. When the economy grows, the number of dollars being taxed will increase so much so that the tax cut will be revenue neutral
 
Having control of the house, senate and white house it tool the republicans an entire year to pass a major legislation. This is an indication of the republican party scrambling after we elected a retard to the white house.
 
AT&T is giving 200,000 of it's U.S. workers a $1000 bonus and increasing it's capital spending (read: jobs) by $1 billion

Comcast is also doing the same with it's non-executive employees.

Wells Fargo is raising it's minimum wage to $15/hr as welll as a bonus and $400 million in donations to non-profit and community organizations.

Several other companies are following suit.

All in reaction to the passage of the corporate tax rate cut.


https://www.cnbc.com/2017/12/20/tax-reform-reaction-att-is-giving-bonuses-to-200000-employees.html

And come next November, when the economy is in hyperdrive and most Americans are taking home more money in their paychecks, they can be reminded that not a single Democrat voted for this.
 
Sounds like a great marketing strategy the uneducated trump base will believe. I have to admit that trump is really good at selling his ideas to people who are stupid.

1000 dollar bonus paychecks will look real good once their children start losing health insurance.

I know a guy who scrubs dishes in a restaurant and makes $13/hr. A gain of 2 bucks an hour is really great and will transform lives.

As far as the growing economy is concerned I am barely making any gains in my IRA and 401K accounts and I don’t know how much anyone else around here. The stock market doing great typically does not trickle down to the common man. A wise man once told me, the only gains you make by investing in IRA is the tax return you get but otherwise the people who gain from trading are the brokers.
 
Welp, I've already personally seen the benefit of this tax reform in the form of a huge bonus. Ka-ching. Thank you President Trump and the GOP in congress.

Hold on folks, it only gets excellent from here.

Really? Please explain how? The Koch Brothers and Walmart Family are 2 of the biggest beneficiaries of this. Do you think they will share ONE PENNY with their workers?

If you said "YES" please put a bullet in your head because you are FUCKING CLUELESS!

This WILL cause a Recession by 2022 and that is super easy to see

Trickle Down Economics NEVER HAS AND NEVER WILL WORK! The 1% will KEEP the money - not pass it down

Enjoy your money now. Please save it because WHEN the economy goes into the toilet..............DON'T SAY YOU WERE NOT WARNED!
 
FedEx says new tax cuts could boost annual profits by $1.3 billion

The president has yet to sign the Republican tax plan, but FedEx is already calculating its windfall.

Executives at the package delivery company say the passage of the bill, which promises massive cuts to the corporate tax rate, would prompt the company to increase spending on hiring, as well as new equipment and technology. The company also projects the changes to amount to a $1.3 billion increase in annual profits, according to calculations by Bloomberg.

“We’re encouraged by the Tax Cuts and Jobs Act legislation advancing in Congress at this very moment,” Frederick Smith, the chairman of FedEx, said in the call. “This legislation offers pro-growth, pro-business tax reform solutions that will power the economy.”
https://www.washingtonpost.com/news...nnual-profits-by-1-3b/?utm_term=.5113555de6e0
 
Sounds like a great marketing strategy the uneducated trump base will believe. I have to admit that trump is really good at selling his ideas to people who are stupid.

1000 dollar bonus paychecks will look real good once their children start losing health insurance.

I know a guy who scrubs dishes in a restaurant and makes $13/hr. A gain of 2 bucks an hour is really great and will transform lives.

As far as the growing economy is concerned I am barely making any gains in my IRA and 401K accounts and I don’t know how much anyone else around here. The stock market doing great typically does not trickle down to the common man. A wise man once told me, the only gains you make by investing in IRA is the tax return you get but otherwise the people who gain from trading are the brokers.

liars and thiefs all getting together
 

xfire

New Twitter/X @cxffreeman
As a business owner I would like to thank President Trump and the GOP Congress for such a massive savings. As a decent human being and a True American, I would like to say eat a burning dick to the same motherfuckers.
 
So pass those massive savings to whatever employees you have, or expand your business and hire more employees or give to charities.

Bureaucrats in Washington know better how to spend your money than you do. They're certainly efficient at it.

To the wealthy libs who are squealing like stuck pigs over these tax cuts, you can send more to the U.S. Treasury. The tax rates are just the required minimum. C'mon you bleeding heart hypocrites, lead by example and pay a 90% tax rate.
 
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