Taxes

The Senate GOP Tax Cut Bill Might Be Worse

JM Ashby
Written by JM Ashby

Here's something I didn't necessarily expect to see: the Senate Republicans tax cut bill might be worse than the House Republican tax cut bill.

House Republicans have run into trouble with their own members because their tax cut bill eliminates most state and local tax deductions and only preserves a small property tax deduction, but the Senate bill will reportedly eliminate SALT deductions entirely.

Senate Republicans are considering fully repealing individual federal tax deductions for state and local taxes -- including property taxes, according to two people familiar with their discussions. The people asked not to be named because the Senate’s tax-writing discussions haven’t been made public. [...]

Representative Peter Roskam, the Illinois Republican who chairs the House tax policy subcommittee, said Tuesday that House members would fight the Senate bill if it ends SALT entirely.

In each case, House and Senate Republicans are proposing raising taxes on upper middle-class families to finance tax cuts for the super-rich and corporations. Their point of disagreement appears to be just how much they should raise taxes on them.

It's an interesting tactic considering that Republicans were obliterated in the modestly wealthy suburbs of Virginia last night. Each congressional Republican proposal calls for raising taxes and shredding property values in suburbs.

Republicans apparently believe they will be wiped out in 2018 if they don't pass tax cuts for the rich and corporations, but I think they have it backwards. They'd be much better off electorally if they do nothing. But I can't recommend they go through with these tax cuts even if I believe it will ultimately help Democrats, because it will be a disaster for America.

Everything Republicans touch turns to shit.

  • 1933john

    Especially when they pick their nose.

  • muselet

    I didn’t fully realize until just now how little The Donors care about The Base. And how little interest The Donors have in the political wellbeing of the politicans they’re leasing (leasing is cheaper than buying and you don’t have to worry about the trade-in value).

    It would be fun to watch congressional Rs get into an extended donnybrook over this (our glorious news media might even take the opportunity to explain just how much eliminating SALT deduction would cost taxpayers), but I worry that they might find some mutually-acceptable compromise. The best thing for the country would be for House Rs to dig in their heels right from the go and refuse to negotiate.

    Waiting for the Rs to step on their johnsons is exhausting.

    –alopecia

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