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Nationalist Pundit

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Blog posts : "tax bill"

GOP Tax Cut Bill Passes

Both the House and the Senate passed the GOP tax cut bill yesterday. The votes were along party lines with no Democrats supporting the bill. In the House, only 12 Republicans voted no while in the Senate, every Republican senator voted yes. All except John McCain, who is in Arizona recovering from his cancer treatment. Vice President Mike Pence presided over the Senate just in case his vote was needed. President Donald Trump praised the passage of the tax cut and reform bill. He will sign it later today after the House votes again due to some minor issues in the Senate version.



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Tax Reform Bill Completed In Conference

The House and Senate Conference Committee has finished work on the tax reform bill. The latest version which will be voted on next week does have some changes. The corporate tax rate will be set at 21% instead of 20%. There will be reductions in all individual rates. One sticking point between the House and Senate versions was the SALT or State And Local Tax deductions. You will still be able to claim up to $10,000 in such taxes. The compromise bill satisfies most of what President Donald Trump had been asking for. A vote is scheduled for next week and once it passes, most Americans will begin to notice more money in their paychecks by February.



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House To Vote On Tax Bill

Sometime today, the House of Representatives will vote on their version of the tax bill. The Senate is preparing their version as well. Neither are what President Donald Trump proposed. Sure, both bills have some elements of what the President wanted, the House more so than the Senate. But both fall short and in the end, it may not matter. The crazy, cranky old man of the Senate, John McCain, will probably vote no on any tax bill. Plus, a few other Republican senators who are determined to prevent President Trump from fulfilling his agenda. Their objections have less to do about policy and more so to do with just plain, old jealousy.



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