Montana Sen. Jon Tester's displeasure with tax bill goes viral
- Author: Kyle Peterson Dec 03, 2017,
Dec 03, 2017, 0:41
Republicans pushed a almost $1.5 trillion tax bill through the Senate early Saturday after a burst of eleventh-hour horse trading, as a party starved all year for a major legislative triumph took a giant step toward giving President Donald Trump one of his top priorities by Christmas.
Nonetheless, the bill received a boost Thursday when Sen.
Since taking office in January, President Donald Trump and the Republican-led Congress have passed no major legislation.
In a late night rewrite of the bill, the text of which has not yet seen the light of day, leadership won over a couple of other holdouts by making the tax break for so-called pass-through corporations more generous-up from 17.4 percent to 23.
Murkowski said she supports the tax bill now that it would allow oil drilling in Alaska's Arctic National Wildlife Refuge.
Blocked from including that provision because of the parliamentarian's ruling, Republican leaders delayed planned votes on the tax bill until Friday morning while they scramble for potential tax increases to offset the cost of their cuts.
Sen. John Thune of South Dakota, the No. 3 Republican in the Senate, called the trigger "a work in progress" Thursday afternoon.
Because the House passed a different tax-slashing bill, the probable outcome of Senate approval - provided the House doesn't pass the Senate's version - would be a conference committee in which lawmakers from both chambers fashion a compromise that could include elements of either bill. "This is not a ideal bill, but it is one that would deliver much-needed reform to our tax code, grow the economy, and help Americans keep more of their hard-earned money". Bob Corker (R-Tenn.) and Jeff Flake (R-Ariz.) - wanted to craft a trigger mechanism to automatically increase taxes if the overhaul doesn't raise projected revenues via a growing economy.
Republicans failed in their efforts to repeal the Obamacare healthcare law over the summer and Mr Trump's presidency has been hit by White House in-fighting and by a federal investigation into possible collusion a year ago between his election campaign team and Russian officials. The group describes its mission as reforming the tax code "by reducing the corporate income tax rate to make it more competitive with our nation's major trading partners".
Democrats are united in their opposition to the legislation. Sen. The tax cuts for individuals would expire in 2026 while the corporate tax cuts would be permanent.
Without the deduction, Collins said, it would be "very problematic for me" to vote for the bill.
"The Republican tax bill has made a mockery of the Democratic process", Schumer said. "We have done it and we're ready to go", she said.
The Senate bill would eliminate the individual mandate in the Affordable Care Act, which requires federal filers to buy insurance or pay an IRS penalty.
Sen. Ron Johnson, R-Wis., initially was the first Republican senator to oppose the tax reform package - but Friday, Johnson's spokesman told Fox News he flipped to a "yes" vote. That change would match the House bill.