INSIDE LOOK AT TAX BILL NEGOTIATIONS:
Get used to hearing the word "trigger." It is part of a new proposal deficit hawks are making to support the bill.
I'm headed for DC. Will tweet. Follow if interested. 1/
Get used to hearing the word "trigger." It is part of a new proposal deficit hawks are making to support the bill.
I'm headed for DC. Will tweet. Follow if interested. 1/
There are 4 types of deals being asked for to my knowledge for Senate Rs to vote for the tax bill.
I will review them in a bit. 2/
I will review them in a bit. 2/
To start with here is a rundown of the calendar & key issues for passing of the bill. 3/
A truism with a 52-48 majority is that if a GOP Senator is a credible threat to vote no, they have an opportunity for a deal.
4 deals... 4/
4 deals... 4/
1- An ask 2 slightly improve how the bill works 4 low-income people.
The @nytimes lays out how bad the bill is for low income.5/
The @nytimes lays out how bad the bill is for low income.5/
Item 1 per many press accounts has no legs.
All the deals cost $ so GOP is prioritizing & low income have no voice. 6/
All the deals cost $ so GOP is prioritizing & low income have no voice. 6/
Also Item 1 sponsors aren't a real threat 2 vote no (@marcorubio) so most accounts👇 don't expect anything here.
nytimes.com/2017/11/27/us/…
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nytimes.com/2017/11/27/us/…
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Item 2 is health care. 👇 Senator Collins has principally championed this issue. She is being offered a deal... 8/
Item 2 is a bad deal. Some combination of a commitment to Murray-Alexander (CSRs) & Collins-Graham (reinsurance) 4 a yes vote. 9/
Collins also wants a prop tax deduction added. These items don't even begin to address the damage from the ACA mandate.10/
Item 1 would have made the bill better. Item 3 would make it even worse.
I define worse as more lopsided 4 high earners. Same @nytimes 11/.
I define worse as more lopsided 4 high earners. Same @nytimes 11/.
Two Senators who are more credible threats to stop or at least slow thing are looking for more advantages for high income earners. 12/
Item 3 refers to "pass throughs" and is talked about as small business.
It's just a loophole so that high earners can pay a lower rate.13/
It's just a loophole so that high earners can pay a lower rate.13/
Item 3- Just declare yourself a small business and pay a lower rate. 14/
Item 4 on the table is an amendment 2 get deficit hawks on board.
This whole thread explains it technically.15/
This whole thread explains it technically.15/
In a nutshell, this would like like an amendment that would restore some of he tax cuts if the deficit grew too much. 16/
Any of these 4 deals will likely not be seen until they are on the floor. No score, no analysis, no hearing. All back room.
More later.17/
More later.17/
