Trump presses Senate to pass tax bill in tweets

Besides having obvious issues with the content of the bill, Senate Democrats were incensed by the rushed way it was passed.

"It's the largest tax decrease in the history of our country by far", Trump said during a fundraiser in NY on Saturday morning.

The report, combined with a ruling by the Senate parliamentarian that a "revenue trigger" sought by deficit hawks failed to comply with budget rules, raised fresh doubts about whether Republicans could muster the 50 votes they need to pass their tax bill.

No Democrats are expected to vote for the tax bill. Bob Corker, opposed it. John McCain (R-Ariz.) cited this summer in his late-night vote to stop the GOP from repealing large chunks of the Affordable Care Act.

The House passed its version of the bill on November 16, which has major differences from the Senate version.

Tester called the release of the final bill language and the short time frame "unbelievable".

Читайте также: 'That's a big bird', watch Trump pardon Thanksgiving turkey

During his speech Saturday, the president argued that unified opposition from Democrats to the bill could be used against them in the midterms. The tax cuts for individuals would expire in 2026 while the corporate tax cuts would be permanent. He said he'd received commitments from party leaders and the administration "to work with me" to restore protections, dismantled by Trump, for young immigrants who arrived in the US illegally as children. "Because nobody knows what reform means".

Deductions for state and local income taxes, moving expenses and other items would vanish, the standard deduction - used by most Americans - would almost double to $12,000 for individuals and $24,000 for couples, and the per-child tax credit would grow.

"From the outset of the current debate on tax reform, my goal has been to ensure that Congress passes a tax reform package that is both fiscally-responsible and promotes economic growth", Flake said in a statement. The group describes its mission as reforming the tax code "by reducing the corporate income tax rate to make it more competitive with our nation's major trading partners".

Ahead of the vote, Senate Majority Leader Mitch McConnell worked throughout the week to win over skeptical Republicans by making changes to the bill. Holdout Sen. Susan Collins, R-Maine, who asked GOP leaders for multiple changes to the bill, has not yet committed to supporting it.

Murkowski said she supports the tax bill now that it would allow oil drilling in Alaska's Arctic National Wildlife Refuge.

There would also be lower taxes on companies with owners that pay individual tax rates on profits, and a more gradual elimination of tax breaks for firms buying equipment. To pay for that, leaders reduced the number of high-earners who must pay the alternative minimum tax, rather than completely erasing it. And it would increase a one-time tax on profits held overseas by USA -based corporations. Ron Johnson (R-Wis.) and Steve Daines (R-Mont.) secured changes in the last 24 hours to a business deduction that would cost approximately $60 billion over the next decade, according to Daines. Johnson's support came after negotiating an improved treatment for pass-through entities, which account for about 95 percent of USA businesses.

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