Congress Anticipates Victory on Tax Vote Trump Moves Towards Huge Win By Natalie Baldassarre

After a year of stagnation, Congress anticipates victory on a sweeping tax reform vote in the coming days.

On “Sunday Morning Futures with Maria Bartiromo,” Rep. Kevin Brady (R-Texas), Chairman of the House Ways and Means Committee said “We are on the 1-yard line and we intend to punch it in a good, strong way on Tuesday ... And this means Americans on April 15, that will be the last time Americans have to file under this horrible broken tax code, so there is a lot to be happy about.”

Uncertainty in the Senate has been put to rest with Sen. Majority leader Mitch McConnell “almost certain” that the GOP will be able to pass tax reform before Christmas. Trump-defector Sen. Bob Corker (R-Tenn.) has flip-flopped his usual “no” vote to a “yes,” while Sen. Marco Rubio (R-Fla.) has also fallen in line after the child tax credit was enhanced. With Corker and Rubio on board, few are worried about Sen. John McCain (R-Ariz.) and Sen. Thad Cochran (R-Miss) missing the vote due to health issues. In the event that both McCain and Cochran miss the vote, the GOP is still likely to have enough votes to tie the block voting Democrats - unless there is an unexpected surprise.

Despite positivity on both sides of Congress, critics still accuse the tax bill of benefitting large corporations, increasing the federal deficit, while hurting small businesses and middle-class families – those who championed Trump in 2016. The bill also eliminates Obamacare’s individual mandate, which could make healthcare premiums rise by 10%, and leave up to 13 million people uninsured.

However, President Donald Trump remains certain that the bill will pass. 

Trump on tax vote

Although the passing of the Tax cuts and Jobs act would be a huge legislative victory for the Trump administration, it is too early to tell what the political ramifications will be. The latest Harvard CAPS-Harris survey found that overall 64% oppose the tax bill, while only 72% of Republicans support it. The GOP believes that these numbers will turn around, and for their sakes – and jobs – they better. Democrats will likely be using the tax bill against the GOP in the 2018 elections – especially if it fails.



Home | About Us | Advertise | Privacy Policy | Contact