Post by seeyalater52 on Dec 12, 2017 14:29:25 GMT -5
He is being a bit opaque here, but I don't think he actually intends to vote against the tax bill. I think the tweet isn't even really saying anything that broad - it's that hhe won't vote to waive PAYGO. Which does present some pretty big challenges in terms of Collins and just generally getting the bill to a majority but probably isn't going to sink the whole effort.
Plus in the end he'll vote with the party to pass because we all know he loves to grandstand.
Post by seeyalater52 on Dec 13, 2017 8:55:18 GMT -5
The call to seat Jones before a tax bill vote (like Dem leadership did with Brown before the ACA vote) is a nice talking point but it’s not a real plan of action and there’s nothing Dems can do to force that to happen.
Don’t forget, this gives Collins a bit more leverage, but even with Jones we are missing a 3rd vote against the bill. I’m not hanging my hat on Corker or Paul.
Post by biscoffcookies on Dec 13, 2017 12:12:48 GMT -5
House and Senate conference committee members have reached a deal in principle on the tax reform package, but details not released yet. They say they still have to iron out some small details and then make sure House/Senate are on board.
I thought Collins’ demands on healthcare were rejected by Ryan. Is she still a solid yes on this?
Basically. She already said she doesn’t want to delay the vote until after Jones is seated. She shows no signs of demanding they make good on what she was promised.
This is why at the end of the day, a Republican is a Republican no matter how soft. And Republicans favor tax breaks for wealthy people and corporations. Collins is a Republican and she wants this done.
I thought Collins’ demands on healthcare were rejected by Ryan. Is she still a solid yes on this?
Basically. She already said she doesn’t want to delay the vote until after Jones is seated. She shows no signs of demanding they make good on what she was promised.
This is why at the end of the day, a Republican is a Republican no matter how soft. And Republicans favor tax breaks for wealthy people and corporations. Collins is a Republican and she wants this done.
Basically. She already said she doesn’t want to delay the vote until after Jones is seated. She shows no signs of demanding they make good on what she was promised.
This is why at the end of the day, a Republican is a Republican no matter how soft. And Republicans favor tax breaks for wealthy people and corporations. Collins is a Republican and she wants this done.
Well shit.
Also she is really a terrible negotiator.
TRULY. If I were her constituent Id vote her out just on that alone.
But she’s also shown she can be shrewd when she wants to be. She just doesn’t want to on this. Her concerns about the bill and weak requests for promises and concessions are about giving her cover and making her seem less moderate, not about changing the trajectory of the bill.
Does anyone know the current status of the hybrid/plug-in tax credit. I know one version had taken it out but was not sure of the latest details.
I dont think they’re going to be releasing any finer details until tomorrow or Friday. Unless someone else has insider info that I don’t know. We’re getting nothing on specifics right now.
Does anyone know the current status of the hybrid/plug-in tax credit. I know one version had taken it out but was not sure of the latest details.
I dont think they’re going to be releasing any finer details until tomorrow or Friday. Unless someone else has insider info that I don’t know. We’re getting nothing on specifics right now.
Reporters are getting specifics. They are raising the corporate rate to21% to offset lowering the top rate to 37% (after claiming that they just couldn’t possibly raise the corporate rate beyond 20 when Rubio floated it to make the child tax credit refundable — suddenly raising the corporate rate is AOk when it means further cuts for the rich), corporate AMT fully repealed (so a lot of corporations will pay very little with their deductions and creative accounting), pass through at 20, mortgage interest limited to first $750k of mortgage. On SALT, $10k cap gets kept but there will be flexibility on deducting property or income taxes. Individual mandate repealed (of course).
I dont think they’re going to be releasing any finer details until tomorrow or Friday. Unless someone else has insider info that I don’t know. We’re getting nothing on specifics right now.
Reporters are getting specifics. They are raising the corporate rate to21% to offset lowering the top rate to 37% (after claiming that they just couldn’t possibly raise the corporate rate beyond 20 when Rubio floated it to make the child tax credit refundable — suddenly raising the corporate rate is AOk when it means further cuts for the rich), corporate AMT fully repealed (so a lot of corporations will pay very little with their deductions and creative accounting), pass through at 20, mortgage interest limited to first $750k of mortgage. On SALT, $10k cap gets kept but there will be flexibility on deducting property or income taxes. Individual mandate repealed (of course).
This is bad news because it means the media is getting this info faster than the Dems, including those who are on the conference committee. Now that it’s public it’s coming in but yikes sham process.
Reporters are getting specifics. They are raising the corporate rate to21% to offset lowering the top rate to 37% (after claiming that they just couldn’t possibly raise the corporate rate beyond 20 when Rubio floated it to make the child tax credit refundable — suddenly raising the corporate rate is AOk when it means further cuts for the rich), corporate AMT fully repealed (so a lot of corporations will pay very little with their deductions and creative accounting), pass through at 20, mortgage interest limited to first $750k of mortgage. On SALT, $10k cap gets kept but there will be flexibility on deducting property or income taxes. Individual mandate repealed (of course).
This is bad news because it means the media is getting this info faster than the Dems, including those who are on the conference committee. Now that it’s public it’s coming in but yikes sham process.
Well we knew that. It’s like how the Dems had to get the info about what would be in the Senate bill from lobbyists because the GOP wouldn’t give it to them directly.
Related: Meadows is saying he thinks House GOP will get “rolled” on A-M and it will be included in spending deal even though he and HFC oppose. Whether this actually happens or they are just sending signals to avoid any risk Collins defects, who knows.
Post by biscoffcookies on Dec 13, 2017 14:47:06 GMT -5
Brady tells Democrats -- in public, during the conference committee hearing today! -- that they will find out what is in the conference tax bill when it goes public later this week.
In a different tweet, she also says that the Dems on the committee say they have been completely excluded from negotiations and have only been able to learn about what the bill might have from the media. I know I shouldn't be surprised, but I am truly aghast. I recognize that there probably isn't much room for negotiating and compromise on this topic, but still, openly being like, "Neener, neener, we aren't going to tell you what's in it until we release it to the public" and abandoning all pretense of...anything...is both infurating and depressing.
Wyden goes on a tear, stating the hearing is a sham meant to soothe Republicans to claim to care about regular order. If you happen to live in Arizona, maybe consider calling McCain to let him know that you think he's full of it again re: "principles" on "regular order."
Really excellent news about grad school at least..... any news on daycare FSA?
Not that I have seen yet.
They are reporting that they will keep the provision about the medical expenses deduction, so that (1) medical expenses beyond 7.5% of your income will be deductible for 2 years and then (2) after that, you can still deduct medical expenses if they exceed 10%.
Post by biscoffcookies on Dec 13, 2017 15:58:49 GMT -5
Democrats have just learned during the conference committee hearing they won't be able to offer amendments to the final bill text hammered out by the GOP. Markey is now shouting about how that is not regular order.
Post by biscoffcookies on Dec 13, 2017 17:14:13 GMT -5
WSJ is reporting that student loan interest deduction won't be repealed either.
So, on one hand -- yay that they are not putting to an end to these deductions (loan interest, medical expenses, tuition remission) that help average families. But on the other hand -- where are they getting the money to offset the losses in revenue that was going to bring, particularly when they are cutting the top rate by 2% and getting rid of AMT?
Assuming that the final bill has to comply with reconciliation instructions?
WSJ is reporting that student loan interest deduction won't be repealed either.
So, on one hand -- yay that they are not putting to an end to these deductions (loan interest, medical expenses, tuition remission) that help average families. But on the other hand -- where are they getting the money to offset the losses in revenue that was going to bring, particularly when they are cutting the top rate by 2% and getting rid of AMT?
Assuming that the final bill has to comply with reconciliation instructions?
It does have to comply, yes. Not sure either how the math works out but it’ll have to clear that procedural hurdle of getting checked out before the Senate votes.
U.S. Republican Senator Mike Lee has not decided whether to support a Republican tax bill and wants changes to the child tax credit, an aide to the lawmaker said on Thursday.
Both Lee and Republican Senator Marco Rubio want more of the proposed child tax credit to be refundable, Conn Carroll, Lee’s communications director said, adding Lee is “undecided on the tax bill as currently written.”
The sweeping tax bill needs a simple majority to pass in the Senate, in which Republicans hold 52 of the 100 seats and no Democrats are expected to support it.
I'm seeing Rubio is against if they don't expand the child tax credit.
I got that alert too but we know he’s spineless. He will cave
I don't know. He seems truly angry that the Senate refused to expand the child tax credit because they were like, "oh, no, we couldn't possibly raise the corporate tax rate beyond 20%" but then they turned around and gleefully raised the tax rate to 21% (which is actually a hair higher than it would have needed to be raised to give the child tax credit provision he wanted) just so they could give additional tax cuts to the top tax bracket. He (and Lee, if they stick together) basically have all the leverage in the world if you add in Corker as the third no.
He may very well eventually vote yes, because I don't think he wants to tank the whole bill, but I also don't necessarily think this is total grandstanding. He may very well be able to extract some additional concession on child tax refundability, and if so, then I am glad he does -- this bill sucks, but it would make it slightly less awful for the people who need the help most.