House Republicans Target More Tax Cuts as Elections Near
House Republicans Target More Tax Cuts as Elections Near
GOP lawmakers may oppose tax bill 2.0 to hold onto seats
17 September, 2018, 14:39
Several Republican House members, facing tough re-election fights in high-tax, Democratic-leaning states like NY and New Jersey, voted against the tax legislation previous year and would prefer to do without this new version as well. Startups would also be able to write off more of their costs under this new proposed tax law. Even some Republicans, especially those in high-tax states where residents may be hurt by an extension of the limits on deducting state and local taxes, are reportedly anxious about voting for the package.
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.
A dozen House Republicans opposed the Tax Cuts and Jobs Act last December.
If successful in the House, the legislation would not likely be taken up in the Senate soon, though experts believe provisions on retirement savings and tax assistance for start-up companies could find bipartisan support eventually.
To the dismay of party leaders, the healthy economy and Trump have become countervailing forces. Deficit hawks as well as Democratic lawmakers - who were unanimous in opposing the tax legislation past year - are asking how the Republicans intend to pay for the extended tax cuts.
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Ford's story is highly credible. "I thought he might inadvertently kill me", Ford said. "We also must respect and listen to Dr. In early August, Ford reportedly took a polygraph test - commonly used to detect lies - administered by a former F.B.I. agent.
The bill includes several retirement-related provisions that would allow small businesses to more easily offer 401 (k) plans, as well as new individual savings accounts for education and newborns. Republican Rep. Kevin Brady of Texas, who heads the tax-writing House Ways and Means Committee, is looking toward a vote on the legislation by the House this month. Results for the full sample have a margin of sampling error of plus or minus 3.8 percentage points; it is larger for subgroups.
The tax-cut bill reduced corporate taxes from 35 to 21 percent, fueling business growth for companies of every size, which have in turn hired more workers. "This will create over 1.5 million new jobs, continue to raise wages, and boost long-run GDP".
"Despite the difficulty of the map's geography, if there's a big wave I think our odds are very, very good", Senator Chuck Schumer, the Democratic leader, said in an interview, adding that when "you're feeling the wave in September it rarely changes much by November".
With midterm elections barely two months away, the second crack at tax cuts outlined Monday is portrayed as championing the middle class and small businesses. "I opened up our handsome economic engine with Regulation and Tax Cuts".
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First Warn meteorologist Chris Mulcahy expects anywhere from 4-10 inches across the Charlotte area, depending on your location. Officials had warned before the storm that the rains could risk tainting waterways with murky coal ash and toxic hog waste.
Hurricane Florence has claimed the lives of four people in North Carolina , and left hundreds of thousands without power . Ocean water breeches dunes in Avon, N.C., as the first effects of Hurricane Florence reach Hatteras Island on Thursday.
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Florence had been a Category 3 hurricane with 120 miles per hour winds on Thursday but dropped to Category 1 before coming ashore. At least 280,000 people are already without power as the outskirts of the storm lashed North and SC , and Virginia.
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Hurricane Florence may hit North Carolina
The more it hovers just off shore, the more potentially deadly storm surge it could push on-shore. "It's a big one", he said. Officials had warned before the storm that the rains could risk tainting waterways with murky coal ash and toxic hog waste.
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