House Panel Backs Bill To Make Trump Tax Cuts Permanent

GOP lawmakers may oppose tax bill 2.0 to hold onto seats

Similarly, 85% of Republicans, 55% of independents and 43% of Democrats say the writer of the op-ed ought to identify themselves.

A committee-level vote is being planned by the House tax committee Chairman Kevin Brady on Thursday, Sept. 13.

That number could rise if Republicans made an estimated $1.1 trillion in individual tax cuts permanent, but scaled back or eliminated the SALT deduction cap, which is a revenue raiser.

The president now faces accusations of incompetence and ill-preparedness to handle the top job while having put together several legal teams to handle accusations of rape and his alleged "collusion" with Russian Federation.

WASHINGTON-Republicans in the U.S. House of Representatives plan to unveil another round of tax cuts this week, hoping to draw a sharp contrast between themselves and Democrats ahead of the November 6 congressional elections. The new tax legislation (or as they call it "Tax Reform 2.0") would also allow taxpayers to deduct medical expenses that are more than 7.5 percent of their gross income for 2017 and 2018, which were reduced from the original 10 percent.

"Last year we said goodbye to America's old, broken tax code".

"Republicans are cutting taxes on the rich for the second time in less than a year", said Rep. Richard Neal of MA, the panel's senior Democrat.

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"After handing massive unpaid-for tax breaks to Big Pharma, Wall Street and the wealthiest 1 percent with the first GOP tax scam for the rich, House Republicans are here with more of the same", House Democratic leader Nancy Pelosi said Monday.

Passage in the Senate would require a 60-vote supermajority because the legislation would add to the already burgeoning federal deficit.

Even so, Republican lawmakers and strategists hope a new tax debate will amplify the party's upbeat economic message. Prospects for the measure, which Democrats unanimously oppose, are dim in the Senate - and it may not come to a vote by the full House before the November elections.

House Republicans said the legislation on the tax cuts would add to economic momentum and create 1.5 million new jobs in the long run, citing numbers from the nonpartisan Tax Foundation. Deficit hawks as well as Democratic lawmakers - who were unanimous in opposing the tax legislation previous year - are asking how the Republicans intend to pay for the extended tax cuts.

Experts claim the rule affects high-tax states like California, New York and New Jersey - all which have highly contested midterm races. The new package would make the capped SALT deduction permanent. "Republicans want to add even more to the deficit, and even more to the bank accounts of the wealthiest 1 percent".

If that happens, it would be the first time since 2012 the USA economy would have to support such a large deficit, highlighting a basic shift for the Republican Party, which once prided itself on fiscal conservatism.

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