The Senate passed the 2018 budget resolution 51-49. The Resolution includes instructions for reconciliation which allows Republicans to pass tax reform with a simple majority.
GOP Republicans needed this win badly as they have been essentially politically impotent.
This bill needed to pass in order to give Republicans Reconciliation on Tax Reform and avoid relying on the obstructionist Democrats.
Since this bill is different than the House’s version it will need to return to the lower chamber to them for approval before it can take effect but it shouldn’t be a problem because they have already worked out a deal.
Senator Corker wasn’t happy about the bill, he said “This is the biggest hoax passed upon the American people ever, that this budget process even exists…The only thing about this that matters is preparation for tax reform, moving beyond the parliamentary issues that we have to deal with on the Senate side. But other than that, these amendment votes, they’re all—everything about this is a hoax. It’s a hoax.”
Senate Majority Leader Mitch McConnell needed this win in order to have a leg to stand on. He has failed his party miserably so far under the Trump administration and there have been calls for him to step down.
Minority Leader Chuck Schumer said “This nasty and backwards budget green lights cuts to Medicare and Medicaid in order to give a tax break to big corporations and the wealthiest Americans,” Schumer said in a statemment. “It shifts the burden from the wealthy and puts it squarely on the back of the middle class, and blows a hole in the deficit to boot.”
If you think the Democrats are upset now, just wait until you see how they react once full blown Tax Reform is passed. President Trump doing his best to pressure the swamp to do their job.
Beyond all the politics, America NEEDS tax reform. Cutting the corporate tax to 20% will make doing business more competitive with the world market.
Can you say 30,000 DJIA ?
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