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With Nation Transfixed By Kavanaugh Monstrosity, House GOP Votes to Give Rich Another $3 Trillion in Tax Cuts
by Jake Johnson, staff writer COMMON DREAMS Sept28 2018
With the nation's attention rightly transfixed by the Senate GOP's monstrous efforts to ram through a Supreme Court nominee who has been credibly accused by multiple women of sexual assault, House Republicans on Friday voted overwhelmingly to approve another $3 trillion in tax cuts for the wealthiest Americans just weeks before the November midterms.
no link...just google COMMON DREAMS
procon
(15,805 posts)Do the consequences even matter to them any more?
alwaysinasnit
(5,072 posts)uninformed about it or simply don't care.
Guy Whitey Corngood
(26,505 posts)our children's future" or some shit. This is the biggest collection of shameless ass clowns I've ever witnessed.
alwaysinasnit
(5,072 posts)Demovictory9
(32,475 posts)Kaleva
(36,342 posts)What's passed in the House isn't guaranteed passage in the Senate.
klook
(12,165 posts)progree
(10,918 posts)One example:
https://www.cnbc.com/2018/09/27/house-poised-to-pass-tax-cut-bills-despite-unlikely-senate-vote.html
... Among other changes, the bills would make recently enacted tax cuts for individuals permanent, expand retirement and education accounts and create tax-advantaged Universal Savings Accounts.
While supporters say a second round of tax cuts would lead to continued economic growth, critics point to its $627 billion price tag over the next 10 years, based on an analysis by the Joint Committee on Taxation. That's on top of the $1.5 trillion the already-passed cuts are projected to cost during the same period.
"The Senate is not expected to debate these bills," said Nicole Kaeding, director of federal projects for the Tax Foundation, a nonpartisan tax-policy research group.
She said, however, that several of the legislation's retirement-related provisions are similar to an existing bipartisan bill in the Senate that could be considered later this year.
That bill, the Retirement Enhancement Security Act (S. 2526) would remove the 70½ age limit for making contributions to traditional individual retirement accounts and would make it easier for small businesses to band together to offer 401(k) plans, among other provisions.
Lots more details at link
progree
(10,918 posts)... TPC also found that the law would give a substantially bigger tax breaks to the richest families over those in the middle class. The richest 1 percent of filers would see an average tax cut of $40,000, while those in the middle 20 percent of earners would see an average cut of $980, TPC said.