Trump Scores HUGE Tax Reform Win In House

Trump Scores HUGE Tax Reform Win In House

The GOP just took a huge step finalizing a tax bill. The House voted 227 to 203 and passed an updated version of their comprehensive tax legislation. They call it the Tax Cuts and Jobs Act. The Republicans are now rushing this to the Senate to vote on later today and then President Trump will sign it into law before Christmas, just as he promised. 12 Republicans voted against the bill. Most of them come from high tax states. Not one Democrat voted in favor of the legislation, which was expected.

This is the second time in a month that House Republicans passed tax reform. That’s almost a miracle in itself. The last one was passed in November, but was different than the Senate’s version, so they had to reconcile the bills. Republican House and Senate leaders met in conference committee and reached a compromise on identical measures to be passed in both chambers of Congress. Who says there aren’t Christmas miracles anymore?

The bill slashes tax rates for the majority of Americans and simplifies the tax code. It will deliver $1.5 trillion in tax cuts over the next ten years, cut the corporate rate from 35 percent to 21 percent and lower individual tax rates. Multinational companies will also be affected. They will see a one-time tax on foreign profits that are kept overseas. But perhaps the biggest part of all this is the repeal of the Obamacare mandate. Most of America will breathe a sigh of relief over that monstrosity being killed off.

While most are certain Senate Republicans have the numbers to send the bill to President Donald Trump’s desk, the vote is expected to be razor thin. So, nothing is for sure just yet. But I’m thinking this is going to go through. We hold a 52-48 majority in the Senate, so this is doable. Corker who defected the last go-around is now a yes. But, John McCain, who is battling brain cancer, will not be here to vote. Jeff Flake has yet to say whether he will vote for the bill or not.

Even so, the Republicans seem to be in a good position to push this through. Sen. Susan Collins of Maine, a very moderate member of the GOP, announced her support. Florida Sen. Marco Rubio, who had previously said he was against the bill, citing a desire to see child tax credits expanded, switched to a “yes” after negotiators met him halfway. Vice President Mike Pence has postponed his trip to the Middle East for this vote in case a tie-breaker is needed.

This is a very important win for the President and the GOP. The Democrats will make it close to impossible to get anything else through in the foreseeable future. But we will at least have a Merry Christmas tax-wise.

Terresa Monroe-Hamilton

Terresa Monroe-Hamilton is an editor and writer for Right Wing News. She owns and blogs at NoisyRoom.net. She is a Constitutional Conservative and NoisyRoom focuses on political and national issues of interest to the American public. Terresa is the editor at Trevor Loudon's site, New Zeal - trevorloudon.com. She also does research at KeyWiki.org. You can email Terresa here. NoisyRoom can be found on Facebook and on Twitter.

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