The Trump administration is poised to pass perhaps the most crucial piece of legislation after the Obamacare repeal bill.
House Republicans have overcome the first major obstacle for tax reform Thursday when they passed President Trump’s proposed tax code overhaul, according to The Washington Examiner.
“For the first time in 31 years, we are wiping the tax code clean and replacing it with one that is fairer and simpler for everyone,” said Rep. Devin Nunes (R-CA), who is a member of the Ways & Means Committee that helped write the plan.
Passing in a 227-205 vote with 13 Republicans voting against the motion, the GOP success in the House promises to put pressure on the Senate to pass their own version of the bill so that the two legislative bodies can sort out their differences in conference.
Unfortunately, the Senate version of the bill is facing a more desperate situation than that in the lower chamber. Three key Republican Senators have warned they would oppose the bill – enough to kill the proposal if every Democrat votes against the motion, which they are expected to do.
Sen. Ron Johnson (R-WI), Sen. Susan Collins (R-ME), and Sen. Bob Corker (R-TN), have warned that they are leaning toward opposing the bill. “I don’t think it’s a good idea from either a political or policy perspective,” said Ms. Collins in an interview on MSNBC, who felt that undoing the mandate would have complex effects on the health care system. “I’m not going to make a final decision on the tax bill ‘til I look at all the provisions,” she added.
Her comment refers to the notion of using the tax bill to repeal the Obamacare insurance mandate penalty for individuals. According to The New York Times, Senate Republicans have included this measure as a calculated gamble, merging both the fight over health care with their plans to cut taxes for businesses.
Sen. Corker, who has had an ongoing feud with the President, said, “If I believe it’s going to add to the deficit, I’m not going to vote for it.”
Regardless, Republicans in the lower legislative chamber are celebrating their victory. The proposed tax plan would cut the corporate tax rate from 35 percent to 20 percent and collapse the seven individual tax brackets into only three. A middle-class family of four that earned $59,000 annually, for instance, would receive a tax cut of nearly $1,200 according to calculations.
President Trump heralded this achievement as a “big win,” for the American people. “Big win today in the House for GOP Tax Cuts and Reform, 227-205. Zero Dems, they want to raise taxes much higher, but not for our military!” tweeted the President.
House Republicans have passed Pres. Trump’s tax reform bill! Will this bill help middle-class Americans?
House Speaker Paul Ryan (R-WI), was equally celebratory over this development. “Passing this bill is the single biggest thing we can do to grow the economy, to restore opportunity and help these middle-income families who are struggling,” he said earlier today, according to The Hill.
With one major hurdle to implementing this tax plan out of the way, it’s now up to the Senate to fulfill their responsibility to the American people.