Trump Signs Temporary Spending Bill To Fend Off A Government Shutdown

Trump Signs Temporary Spending Bill To Fend Off A Government Shutdown

Between 1972 and 2010, wealthier parents spent increasingly on the education of children under 6. There is much else in the details, but these are the key features. A flat rate of 20% is applied to the taxable income. Under the new bill their deductible is now $12,000, and they pay taxes on $8,000 at 12%. Notably, investment incentives were sharply curtailed. Lowering the national deficit was once one of the core tenets of Republican values, but they seem to disregard this in their new bill. They simply pay less in taxes to begin with and so are less affected by changes in the tax code.

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Myth 5. This is a tax bill.

You're also in the wrong place if you want to hear about how Republicans are heartless monsters who hate the poor. The House version collapses the current seven tax brackets to four. And presumably Donald Trump will sign the bill, too, so even he is being responsible.

Fast forward to 2017 and bipartisanship is a dirty word in Washington, D.C. "My way or the highway" is the phrase on everyone's lips, and legislators would rather hold publicity stunts than actually talk to each other.

The Republicans wanted to make sure they could pass the bill without any Democratic votes. The Senate Bill goes even higher! That was real, revenue-neutral tax reform. The trickiest topic, and a top priority for Democrats, involves protections for immigrants brought to the country illegally as children. If they keep the money, the tax cuts will boost the deficit.

This bill is supposedly about cutting taxes for middle-income people.

The plan would also have an impact on federal housing, including large cuts to rental assistance such as vouchers, aid tied to certain private developments and public housing.

As the Tax Foundation has shown, the Rust Belt states that propelled Trump to office have some of the highest property taxes in the country.

Republicans last passed temporary tax cuts under George W. Bush in 2001 and 2003.

The letter was orchestrated by Wisconsin Gov. Rick Walker (R), whose staff was tasked with gathering the signatures of GOP colleagues. However, they were not reversed. Or perhaps they will kick the can down the road a little further. Plus, it's a good thing to do.

A government shutdown would commence after Friday at midnight if Congress doesn't pass a spending bill by then.

The problem for the Democrats is that a lot of their activists' hopes are invested with far inferior ideas, like the lure of free college and the political fantasy of single-payer. In November, 11 of the 14 House Republicans from California supported the tax bill.

That remains unlikely, because Republicans are desperate for a legislative achievement. President Ronald Reagan tried unsuccessfully to repeal the deduction. If they invest, reflecting the most favorable view of the bill, tax revenues from a booming economy might cover the cost of the cuts.

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