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Saturday, December 2, 2017






Sources: HuffPost, CBS News, Fox News, Youtube

***** Hillary Clinton Calls Senate Tax Bill 'Insulting Attack' On Americans

Hillary Clinton condemned the Republican tax bill that passed the Senate early Saturday morning during her appearance at a conference for young political activists later in the day.

“This could not be a more blatant and insulting attack on working Americans,” she reportedly told the audience at the Teen Vogue Summit in Playa Vista, California, where she was interviewed by “Black-ish” actress Yara Shahidi.

Clinton also criticized the bill for benefitting billionaires while eliminating cuts for teachers who buy school supplies for their students, according to The Hollywood Reporter.

Shortly afterward, the former Democratic presidential candidate urged her social media followers to take an active role in the 2018 midterm election.

“This tax bill is only going to get worse as people learn more about it,” she said over Twitter. “There are 6 GOP Senators that have to run on it & 2 open seats in 2018.

We all need to get to work..”

Although President Donald Trump campaigned in part on a platform of tax cuts for the middle class, the GOP bill reserves its biggest benefits for the wealthiest Americans.

Republicans approved adding $1.5 trillion in national debt over 10 years on the belief it would be offset by economic growth. While many Americans will see some tax cuts, according to the nonpartisan Tax Policy Center, the richest 20 percent of households will reap 90 percent of the benefit of the tax cuts over those 10 years.

Senators voted 51-49 to narrowly pass the measure, with just one Republican, Bob Corker of Tennessee, joining Democrats to oppose it. The Senate legislation will likely be combined with the tax bill passed by the House last month; both chambers would need to approve the new version before it crossed Trump’s desk.

Senate majority leader Mitch McConnell (R-Ky.) said the bill’s passage marked “a great day for the country,” while Trump thanked Republicans for their “hard work and commitment.”


****** Tax bill: Senate passes sweeping tax overhaul in early morning vote

The Senate narrowly passed Republicans' tax reform legislation early Saturday morning with no Democratic support, following a marathon voting session overnight.

The bill, approved just before 2 a.m. in a 51-49 vote, next heads to conference, where House and Senate negotiators will work out the differences in their bills. Sen. Bob Corker (R-Tenn.) was the only Republican to vote no on the measure. The House bill also passed with no Democratic support last month.

The legislation was officially released shortly before the vote, giving the public little time to examine the final details. Democrats were outraged, asking for more time to review the measure. Sen. Claire McCaskill (D-Mo.) claimed she was handed the amendments to be included in the bill not by any of her colleagues, but by a lobbyist. Lobbyists, her comment implied, saw the bill before Democratic members.

"Not a single member of this chamber has read the bill," Senate Minority Leader Chuck Schumer (D-N.Y.) said on the Senate floor before the bill passed. "It would be impossible."

Senate Majority Leader Mitch McConnell, who held a press conference after the bill's passage, suggested Democrats were only concerned about the legislative process because they were losing.

"You complain about process when you're losing," McConnell said. "And that's what you heard on the floor tonight."

McConnell also said he believes the bill will be revenue neutral, despite analyses suggesting it will add to the deficit.

"This is a great day for the country, it's been 31 years since we've done comprehensive tax reform," McConnell said.

President Trump hailed the bill's passage in a tweet Saturday morning, thanking Republicans for approving the measure.

Biggest Tax Bill and Tax Cuts in history just passed in the Senate. Now these great Republicans will be going for final passage. Thank you to House and Senate Republicans for your hard work and commitment!

— Donald J. Trump (@realDonaldTrump) December 2, 2017
The Senate bill permanently lowers the corporate tax rate from 35 percent to 20 percent. Tax rates will also be cut for individuals, though their tax cuts will expire after a decade. The Senate bill keeps the same number of individual tax brackets, although it changes what those brackets are.

The Senate bill also repeals the individual mandate under Obamacare, something conservatives in Congress have long wanted. The House version does not touch the individual mandate.

The Senate bill, like the House bill, limits state and local income tax deductions to property taxes, with a cap of $10,000. The Senate bill increases the child tax credit from $1,000 to $2,000.

Republicans -- with the help of a tie-breaking vote from Vice President Mike Pence -- approved a provision from Sen. Ted Cruz, R-Texas, that expands a tax break for 529 contributions to K-12 schools. The Senate shot down an amendment From Sens. Marco Rubio, R-Florida, and Mike Lee, R-Utah, to further expand the child tax credit in exchange for a corporate tax rate increase from 20 percent to just under 21 percent.

The Senate bill is expected to add more than $1 trillion to the deficit over the next 10 years, according to a Joint Committee on Taxation analysis. Republicans had hoped the bill would pay for itself, and there was some concern late Thursday the bill would be held up for fiscal reasons.

The bill's passage is a major accomplishment for Republicans, who have been unable to pass significant or complex legislation since they took control of the House, Senate and White House in January.

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