Republicans push tax bill forward, Trump hails GOP 'love fest'

Republicans push tax bill forward, Trump hails GOP 'love fest'

The House passed its own tax-cut measure last month, and Senate Republicans can afford to lose no more than two votes among their ranks to pass the measure without Democratic help.

The House passed its version of tax-reform legislation on November 16, 227-205.

Since Trump took office in January, he and fellow Republicans in command of both chambers of Congress have approved no major legislation, a fact they want to change before facing the voters in the 2018 midterm congressional elections.

A possible "fiscal trigger" to appease deficit hawks: Senators like Bob Corker, James Lankford, Jerry Moran, and Jeff Flake have all expressed concerns about the tax bill's potential effect on the debt and deficit.

The Senate bill would slash the corporate tax rate to 20 percent from 35 percent after a one-year delay.

The ad urges people to call the five Republicans, who voted in favor of the bill, and says there's "still time to right this wrong" and "vote "no" on any tax plan that hurts our health care". He wants further cuts for "pass-through" businesses that do not directly pay income taxes but instead send their earnings to their owners to be taxed as individual income.

Currently, there are at least 97 different federal taxes.

No official analysis has been released by the Treasury Department or the nonpartisan congressional Joint Committee on Taxation to support the GOP claims that economic growth generated by the tax plan will make up for the massive revenue losses. The House would keep individuals' state and local property tax deduction, which the Senate bill would eliminate.

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"It was very, very special", Trump told reporters in the Roosevelt Room of his meeting with Republican senators.

The Alexander-Murray bill has enough support in the Senate but has been blocked by GOP leadership.

But outcome of the committee vote remained in limbo Tuesday morning, with two members of the panel threatening to oppose unless their concerns are addressed.

The Corker concession was one of several lingering uncertainties in the bill that Senate aides said would be nailed down as the measure neared a floor vote.

As the tax fight played out, a new battle opened on another front as Democrats cancelled a White House meeting with Trump to discuss spending, immigration and other issues after Trump said on Twitter that he did not think a deal was likely.

On a shutdown, Trump said, "If it happens it's going to be over illegals pouring into the country, crime pouring into the country, no border wall, which everyone wants".

Lawmakers must renew government funding before it expires on December 8 or risk a shutdown.

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