Under the Fog of Kavanaugh, House Republicans Pass $3.8 Trillion More Tax Cuts for Wealthy

Every day with Trump and the Republican Congress is a devious game of misdirection.  There's an unimaginable amount of scandals filling the headlines, crowding and clouding the news cycle, making it nearly impossible to pay attention to the destructive Republican policies being enacted out of sight.  Things that would normally dominate the news and our national discussions for days, weeks, or months never even get mentioned -- no one even hears about it.  This. Is. Terrifying.

Case in point was last week when House Republicans passed a massive additional tax cuts for the rich.  Yes, you read that right.

With attention fixed on the Brett Kavanaugh confirmation hearings, the U.S. House of Representatives passed a new $3.1 trillion tax cut on Friday. The vote was 220 to 191

The down-to-the-wire 2017 tax act passed in late December contained a mix of permanent and temporary changes that had to result in a net increased cost that fell within a structural limit of $1.5 trillion that allowed the Senate to approve the bill with a simple majority.

The House’s new bill takes effect starting in 2025, and would add $600 billion to the national debt within the next decade, and then $3.2 trillion in the 10 years after that

It appears this tax cut for the richest of the rich will not move forward for now as the Senate won't address it.  That could change and hopefully we'll be paying attention.

Despite the House vote, it is unlikely the Senate will take up the legislation. The first round of tax cuts landed with a thud, with even a leaked Republican National Committee poll—reported on by Bloomberg News—showing American voters thought it benefited “large corporations and rich Americans” by an overall 2-to-1 margin and the same margin among independent voters.

Without special rules in place, the Senate would vote under normal procedures, which can require 60 senators’ votes to pass a bill that is heavily opposed.

 

Source: http://fortune.com/2018/09/28/house-3-8-trillion-tax-cut-passes/

 

Date: 
Tuesday, October 9, 2018
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