Republicans say tax plan could be signed into law by Christmas

Republicans say tax plan could be signed into law by Christmas

By TMN Interns   
Published
Sen. John Kennedy (R.La) told reporters at a news conference on Tuesday:"This is what it's about" while waving his wallet. "There are two groups of policy makers I have found in Washington, and I'm not talking about Democrats or Republicans. There are those who believe ... in more freedom and there are those who believe in more free stuff." Kennedy said, adding, "this bill is about freedom." (Anthony Jackson/ TMN Intern)

By Anthony Jackson

WASHINGTON – Republican senators and members of President Donald Trump’s cabinet said they are confident the Tax Cuts and Jobs Act will be on his desk by Christmas.

“President Trump has called us to action. He is moving at a business pace, not a bureaucratic pace,” Sen. David Perdue (R-Ga.) told reporters Tuesday.

“He wants us to pass the Senate and the House bill by Thanksgiving, and have it on his desk by Christmas,” Perdue said in the Senate chamber, adding, “This is totally possible in my opinion.”

Senate Minority Leader Chuck Schumer (D-N.Y.) said in a statement released to TMN Tuesday that middle-class Americans “would see an average tax increase of $1,350 by 2027” and called the tax plan a “ticking time bomb.”

“So while some middle-class families may see a tax decrease in the very short run, a considerable number see a hidden tax increase a few years later,” Schumer wrote, adding that the plan is “frontloaded to disguise a tax hike in the out years.”

Treasury Secretary Steve Mnuchin told reporters that the tax reform plan is to make tax cuts for the middle class and not the wealthy. (Anthony Jackson/ TMN Intern)

Treasury Secretary Steve Mnuchin told reporters that the bill “is about putting more money in the pockets of average Americans with the middle-income tax cut.”

Sen Ted Cruz (R-Texas) said he believes tax reform will “get done.” ”

This should be all about jobs, jobs, jobs. More jobs, higher wage paying jobs; more opportunity for Americans working to achieve the American dream,” Cruz said.

Reconciliation – the process that lowers the threshold preventing a filibuster – is in play but Republicans can afford to lose only four votes. Republican senators including Bob Corker from Tennessee and Rand Paul from Kentucky expressed concern for debt added to the deficit and are expected to vote against the bill.

In 2001, Sen. John McCain (R-Ariz.) voted against then-President George W. Bush’s proposed tax cuts. Sen. Susan Collins (R-Alaska) disagrees with tax cuts for the wealthy and wants to avoid “a hole” in the deficit, but has not said how she will vote.

The tax plan is expected to debut in the House on Wednesday.

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