When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to federal records reviewed by International Business Times.
The provision was not in the original bill passed by the Senate on Dec. 1. It was embedded in the final bill by Sen. Orrin Hatch of Utah, who is among the lawmakers that stand to personally benefit from the provision.
In response to Democratic lawmakers who have slammed the provision as a lobbyist-sculpted giveaway to the rich, Republican Majority Whip John Cornyn promoted on Twitter a column by Ryan Ellis, a registered bank lobbyist who has been working to influence the tax legislation and who has defended the provision.
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Hopefully everyone in the US who actually pays taxes will be enriched by this bill.
ReplyDeleteRich get Richer.
ReplyDeleteA snowflake may ponder - How does one apply to "git" into that group?
Answer is NOT getting mommy/daddy's wealth either. HARD WORK is the true answer. Sad that some on that list did in fact obtain their wealth via parents or spouses!
On a much lighter note - 2 days until TGIF!!!!!!!!!!!!!!!!!!!!!
How about a list of the Dems who will benefit, just to be fair.
ReplyDeleteTake off your partison blinders bird brain
DeleteThe gop has sold us out again
ReplyDelete1014-The rich pay the vast majority of the bills in America. If anyone deserves a tax break, yes, they damn well do as well. Every tax bracket is getting a tax cut. Doubling the child tax credit. Doubling the standard deduction. It's a win/win. The rest of the world cut taxes on corporations years ago. Hell, how are we going to compete in NAFTA, when the Canadian corporate tax rate is 15%? The numbers didn't add up, which led to corporate inversions, off shoring, and the lack of tax repatriation(the USA being the only nation in the world that repatriated off shore profits would be taxed at the normal corporate rate).
ReplyDeleteThe world is now competing for corporations. The USA finally did what needed to be done. It's about damn time, too.
Anonymous Anonymous said...
ReplyDeleteThe gop has sold us out again
December 20, 2017 at 10:14 AM
You are MORE than welcome to pay your lower tax rate, or even MORE if you feel that way.
I will take every tax break I can get, so you can send me yours.