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Trump Tax Plan Is a Rocket for the Rich

07 Octobre 2017

The rich will get richer and, when the deficit inevitably grows hugely, these same Republicans will be calling for cuts in government spending on the social welfare safety net programs such as Medicaid and Social Security.

Republicans are more positive about the plan's impact.

Democrats said the spending cuts called for under the GOP budgets would be damaging.

From his seat on the U.S. House Budget Committee, U.S. Rep Mario Diaz-Balart, R-Fla., praised Black's proposal on Thursday. The goals of this would be to make the California tax system more rational and more productive.

Right now, Republicans in Congress face negative evaluations even from those in their own party.

The resolution, which passed by a vote of 219 to 206, included in it instructions for what is known as budget reconciliation. Rep. Peter Welch, D-Vt., was among the dissenters. A plurality of the public overall in the latest Economist/YouGov Poll also expects that Congress will pass tax reform legislation, though there is not clear public support for what Americans today think will happen if the Trump plan becomes law. They promise this tax reform measure will put the economy in overdrive, fueling economic growth to the 3 percent range and adding a surge of new tax revenues. The House barely scraped together enough votes for its bill after multiple attempts, and after falling several votes short in July the Senate eventually gave up. Republicans are arguing over the size of proposed tax cuts, whether they should add to the deficit and which tax breaks to eliminate, in particular the state and local tax deduction. A budget resolution that would have similar, harmful effects on North Carolinians is now working its way through the Senate.

"Washington's spending habits are completely out of control, with debt totaling more than $60,000 per person", Mast said.

Corker's Tillerson take: The chairman of the Senate Foreign Relations Committee, meanwhile, had kind words for Tillerson and other members of Trump's team.

Kicking off the second day of markup on the resolution, Sanders made brief remarks before introducing the first of a slew of proposed amendments.

He backed Moore in the Alabama primary, and he and Trump megadonor Robert Mercer are planning to aid Republican primary challengers in the midterm elections.

"Eighty percent of it would benefit the top one percent in our country", said House Democratic Leader Nancy Pelosi, who drew some jeers from GOP lawmakers in a speech on the floor of the House, as she jabbed at the Republican budget details.

Leaders are under intense political pressure to pass a tax bill as a way to prove their ability to govern.

Senate Budget Committee Ranking Member Bernie Sanders has released a five-page report showing the Republican plan to cut $473 billion from Medicare and $1 trillion from Medicaid over the next decade. "We need to pass this budget so we can help bring more jobs, fairer taxes, and bigger paychecks for people across this country", Ryan said. He hasn't commented specifically on the potential entitlement cuts that his party appears to be exploring as part of tax reform.

Trump Tax Plan Is a Rocket for the Rich