So today Republican Senators have managed to push through their Tax bill through the committees, which means it can now be voted upon. So how’d they manage this particular trick? Setting up marginal improvements according to particular members desires that basically do nothing. Sen. Corker got a ‘trigger’ put in place which is apparently designed to raise taxes if the bill starts to hit the deficit too much. There is currently no explanation as to how this will work, when or to what degree this would apply, so I can’t give you any opinion on what that would mean for the American economy.
Sen. Johnson in turn also let this bill pass through the committee, given that he was concerned that Pass-through businesses weren’t getting enough bang for their buck, presumably that’s getting a sweetener too. As it stands the bills still about a 50/50 chance of passing, I can’t preclude the likes of Rand Paul, Collins, or McCain deciding no on this bill, especially since the former and latter do seem to enjoy giving the leadership grief. On the other hand this congress hasn’t done very well by it’s donors and that will definitely worry the whole caucus, so yeah. 50/50.
Also Trump and the Democrats seem to be gearing up for a pissing match over a Government Shutdown, focusing on immigration and the Dreamers. Well shit.
Reuters: Senate Republicans shove through Tax Bill