It is beginning to look like the GOP Senators and the GOP Representatives will have a serious meeting down at the Capitol Hill Corral. The lingering dispute may bring a lot of fireworks with Senators and Representatives taking shots at each other’s Tax Plan Bills. For the sake of the GOP, the Tax Plan Bill better be a survivor. If the bill dies, some think that the 2018 mid-term elections are dead to the GOP. What do you think?
As Written By Ed Morrissey for Hot Air:
Perhaps policy has become passé these days, but a beatdown in Virginia this week should warn Republicans that rhetoric alone won’t carry them to victory. The GOP desperately needs a major legislative win, and tax reform gives them an opportunity to do that all by themselves. Unfortunately, a lack of coordination between the House and Senate Republican caucuses has produced two different approaches to this massive project, and it’s far from clear that there is any path to unite around a middle position between the two:
Senate Republicans released their own version of a tax plan Thursday, and it varies just enough from the House’s bill to set the two chambers up for a dramatic showdown over tax policy in upcoming weeks. …
According to Sen. John Hoeven, a Republican from North Dakota, the Senate tax bill includes more individual tax brackets than the House bill (seven instead of four). Hoeven also said that the Senate bill fully repeals the state and local tax deduction, which has become a must-save item for moderate Republicans in the House. The House bill repealed the deduction for state and local income and sales taxes, but preserved the property tax deduction up to $10,000 to assuage concerns from New York and New Jersey Republicans.
But the differences don’t end there. While the House bill eventually repealed the estate tax in its entirety, the Senate bill won’t repeal the tax, members said, but instead will limit the number of families affected by it.
The Senate bill also maintains a provision to allow individuals to write off medical expenses that exceed a certain amount of their income, something the House bill scrapped entirely. The issue has become a …….
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