Monday, November 6, 2017

How Will the Republican Get Massive Tax Cuts for the Wealthy Through the Senate Given the Current Rules?

Easy, Change the Rules

Back when Republicans wore the mantle of fiscal responsibility they helped create rules like having an independent CBO analyze policy with respect to its impact on the deficit. And they set up a reconciliation process to help control the deficit. But things like rules kept getting in the way of taking health care from low income people and giving tax relief to high income people.

Buried in the fine print of the newly released Senate Republican budget: language making it much easier to rush a tax cut through Congress.

The budget would erase a Senate rule requiring a full Congressional Budget Office estimate of the cost of the legislation at least 28 hours before a vote. It would get rid of a provision that required a Senate budget reconciliation bill to reduce the deficit by at least as much as a House reconciliation bill. That language caused headaches for Republicans during their failed Obamacare repeal effort.

So let's figure out what this means. The House will pass a massive tax cut for the wealthy. The Senate will modify it, no CBO score will come out, the Senate will pass it with 50 votes. The House will then pass the Senate version, the Trumper will proclaim it the greatest thing ever that he alone did and the CBO will finally say the middle class get nothings, the wealthy get a free trip to the bank.

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