Senate Republicans Are Scrambling to Rewrite Their Tax Bill After a Mini-Rebellion
People walk outside the US Capitol on Thursday as Senate Republicans work to pass their tax bill.Jose Luis Magana/AP Senate Republicans learned Thursday evening that they have a $350 billion problem. The news came as senators congregated on the chamber’s floor for a procedural vote, and lead to a tense intra-party showdown that left Majority…
Elizabeth Warren Just Sent a Scathing Letter to Treasury Secretary Steve Mnuchin About His Tax Bill Charade
Sen. Elizabeth Warren, D-Mass., questions Treasury Secretary Steve Mnuchin during a Senate Banking Committee hearing earlier this year. Tom Williams/CQ Roll Call via AP Images Update: On Thursday night, the Treasury Department’s Inspector General’s office launched an inquiry into whether the department performed an analysis of the Senate tax bill. The Inspector General’s office counsel…
Official Analysis Finds Republicans Are Completely Wrong About Their Tax Bill Paying for Itself
Senate Majority Leader Mitch McConnell (R-Ky.) is surrounded by reporters on Thursday as Republicans move to pass their tax bill. J. Scott Applewhite/AP On Thursday, Congress’ nonpartisan Joint Committee on Taxation found that the Senate tax bill will add $1 trillion to the deficit over the next 10 years. Thursday’s report is the first official congressional…
Republican Critics of Tax Bill Vote to Send Bill to Senate Floor
President Donald Trump arrives on Capitol Hill on Tuesday with Majority Leader Mitch McConnell (R-Ky.) to discuss the Senate tax bill. Tom Williams/AP On Tuesday, a Senate committee voted along party lines to send a $1.4 trillion tax cut to the Senate floor. Sens. Bob Corker (R-Tenn.) and Ron Johnson (R-Wis.), two of the tax bill’s…
The 3 Reasons Republicans Might Vote Down Trump’s Tax Bill
Senate Majority Leader Mitch McConnell during a Judiciary Committee hearing earlier this month. Tom Williams/AP Despite plans to hold a vote by the end of the week, Senate Republicans are still trying to round up the necessary votes. Senate Majority Leader Mitch McConnell (R-Ky.) has only two votes to spare on taxes, and at least six of…
The CBO Just Released Its Analysis of the Senate Tax Bill
Bill Clark/CQ Roll Call/Newscom via ZUMA Last night, the nonpartisan Congressional Budget Office released its analysis of the Senate tax bill. The report concludes that the GOP’s tax bill is bad for the poor from the get-go and ends up eventually raising taxes on the middle class too. Per the Washington Post: By 2019, Americans earning less…