[The Hill] The business community is bracing for Democratic proposals to raise the corporate tax rate to pay for infrastructure spending and other priorities.
Infrastructure is seen as one of the rare areas where Democrats and President Trump might be able to come to a deal, since both sides have called for improvements to the nation’s roads, railways and bridges.
The problem is how to pay for the new spending.
Many in Washington expect Democrats to push for a hike in the corporate tax rate, which was slashed under the tax law championed by Trump.
"I have no doubt that it will be considered," said Marcia Hale, president of the infrastructure advocacy group Building America’s Future.
That’s a non-starter for business groups, and likely will be for Trump and most congressional Republicans as well.
"Talk of repealing any part of the tax reform bill is a non-starter," Ed Mortimer, U.S. Chamber vice president of transportation and infrastructure, said in a statement to The Hill.
The GOP tax law cut the corporate tax rate from 35 percent to 21 percent as part of an effort to make the U.S. more in line with other countries.
Many Democrats also thought the corporate tax rate was too high at 35 percent, but view the GOP cut as too large. Congressional Democrats also voted unanimously against the tax law, arguing that it disproportionately benefited businesses and wealthy individuals.
Democrats have already released some proposals to roll back the corporate tax cut and other aspects of the GOP tax law in order to pay for infrastructure.
Last year, top Senate Democrats proposed raising the corporate rate to 25 percent, and rolling back parts of the tax law that benefit the wealthy, to fund $1 trillion in infrastructure investments. The Democrats said that the corporate-tax increase would raise $359 billion over 10 years.
Outgoing Rep. John Delaney (D-Md.), who is running for president, has floated increasing the corporate tax rate to 23 percent to raise about $200 billion for infrastructure.
"This small change to the new tax law would be more than worth it, because smart infrastructure investment helps businesses compete and grow," Delaney said in a letter to Trump earlier this year.
Henry Connelly, a spokesman for House Minority Leader Nancy Pelosi (D-Calif.), the favorite to become Speaker next year, said "Democrats are looking at a variety of options to pay for bold infrastructure investments in the next Congress."
#3
All of this is for naught. The Trump revolution, as such, will be on hold until a Republican house is brought back because the ultimate goal of such a revolution isn't raising/lowering taxes, it's eliminating public sector paychecks in droves.
And since Democratic party politicians have as their #1 job acting as mercenaries to protect every single one of those (mostly) unneeded government paychecks, at any cost to the U.S. at large, we are at a pause.
Posted by: no mo uro ||
11/26/2018 7:07 Comments ||
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#4
Unless they can get it through the Senate, this is DOA.
Our current boom in GPA and jobs comes from those tax cuts. Which means the demoncrats hate it as it makes the workers and businessmen dependent on themselves instead of the government.
#5
The Trump revolution, as such, will be on hold until a Republican house is brought back because the ultimate goal of such a revolution isn't raising/lowering taxes, it's eliminating public sector paychecks in droves.
President Trump can continue quietly downsizing the government payroll in the meantime through his various secretaries and department heads.
#6
This initiative should be DOA. I know the Republican Senate is next to worthless, but Trump isn't going to sign away the gains he made in his first 2 years.
[Wash Times] Dems importing voters Rep. Elijah Cummings, ranking member of the House Oversight Committee, said Sunday that caravan migrants seeking asylum should be able to enter the country immediately, challenging President Trump's efforts to keep them in Mexico while their cases are processed.
"That's not the law. They should be allowed to come in, seek asylum. That's the law," Mr. Cummings said on NBC's "Meet the Press." "We need them for 2020"
Asked if he would support changing the law, the Maryland Democrat said, "No."
Mr. Trump is seeking a deal with Mexico in which the thousands of asylum-seeking migrants massing on the southern border would remain there until their applications are approved, insisting he will close the border if necessary.
Mr. Cummings said he disagreed with the effort.
"I think we have a system that has worked for a long time," the Maryland Democrat said. "This president's come in, wants to change it. That's up to him. But now the Congress has got to stand up, and hopefully they will."
Posted by: Frank G ||
11/26/2018 00:00 ||
Comments ||
Link ||
[11125 views]
Top|| File under:
#1
There's an agreement that asylum seekers should claim in the first country.
There should be a law that anyone spouting stupid shit like this while holding a public position immediately loses their speaking privileges for a year.
#5
Capitalist running dog bourgeoisie like this guy should lose their property and bank accounts in order that the next wave of refugees can be properly taken care of.
#8
Dred Scot was also The Law™, but that was DoublePlus Bad Law so we don't follow it, right? We only obey laws that are good for the Democratic Party, right?
[Daily Caller] New York Democratic Rep.-elect Alexandria Ocasio-Cortez on Sunday compared members of the migrant caravan attempting to enter the United States to Jews fleeing Nazi Germany during the Holocaust.
Members of the caravan on Sunday rushed the border at the San Ysidro port of entry, which connects Tijuana, Mexico and San Diego, California.
U.S. Customs and Border Patrol closed the port of entry in response and reportedly used tear gas to disperse the crowd of migrants.
Ocasio-Cortez took to Twitter to denounce the treatment of the caravan members.
#9
Is there any way we can get Mistress Overbite her own TV show? Her words of wisdom should be spread throughout the land, so that we can all decide for ourselves how much ammunition to buy.
Posted by: Matt ||
11/26/2018 13:27 Comments ||
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#10
Holy Hyperbole, Batman!
Posted by: Alaska Paul ||
11/26/2018 15:17 Comments ||
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#11
Of course, Dem hero FDR allowed very few Jews to enter the US during WWII. Forgotten by Libs today.
"The plan was dealt a severe blow when President Franklin D. Roosevelt* told Ickes that he insisted on limiting the number of refugees to 10,000 a year for five years, and with a further restriction that Jews not make up more than 10% of the refugees."
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
[Wash Times]
