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 12,456 subscribers RECENT VOTESThe Republican Tax BillOn Tuesday the House considered the Conference Report on H.R. 1, the Tax Cuts and Jobs Act. It passed in the House and Senate on Tuesday, but the House was forced to vote again Wednesday because three provisions in the legislation violated Senate procedural rules. The Joint Committee on Taxation has concluded that this legislation will increase the federal deficit by $1.5 TRILLION over ten years. The nonpartisan Congressional Budget Office (CBO) took interest into account when analyzing the package and they place the impact on the deficit at $1.7 TRILLION. This legislation is beyond irresponsible. Remember, Speaker Ryan has already proposed cutting Medicare and Medicaid spending next year, citing the deficit he helped balloon as the reason why. So what do the American people get in exchange for this tax package? Not much. Corporate tax cuts are made permanent but individual tax cuts will expire – they are NOT permanent. While there is so much to be concerned about with this legislation, that detail alone tells us exactly who Republicans were most focused on when drafting it. This tax package primarily benefits corporations and the top 1% of earners. The nonpartisan Tax Policy Center has concluded that 86 million middle income families won’t get a tax cut — their taxes will go up. The center has also determined that fully 83% of the tax cuts in this package will go to the top 1%. Because Congressional Republicans have failed to repeal the Affordable Care Act, they found a way to sabotage it by inserting a provision in this legislation that does away with the individual mandate. The CBO has already concluded that this will result in more than 13 million Americans losing health care and premiums for others increasing by about 10%. I voted NO. The Conference Report passed and Wednesday’s vote is recorded below:
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