Published: Wed, December 06, 2017
Global Media | By Abel Hampton

Key Republicans in US Senate tax bill fight

Key Republicans in US Senate tax bill fight

In the two letters, sent to the House and Senate respectively, the US bishops outlined six moral principles that they believe the bill must consider: care for the poor, the strengthening of families, maintaining the progressivity of the tax code, raising adequate revenue for the common good, avoiding cuts to poverty programs to finance tax reform, and incentivizing charitable giving and development.

Since the Senate TCJA is different from the House version of the bill, the legislation must either go to a conference committee - where members from both chambers unify the differing aspects - or the House could pass the Senate bill as it is. Above, the Capitol on Thursday.

Republicans including Sen. Bob Corker of Tennessee, Jeff Flake of Arizona and James Lankford of Oklahoma had sought the inclusion of a trigger that would automatically raise taxes and generate about $350 billion in revenue if the projected economic benefits of the GOP tax cuts failed to materialize after five years.

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The Senate Republican tax plan looked increasingly like a sure thing Thursday.

Blocked from including that provision because of the parliamentarian's ruling, Republican leaders delayed planned votes on the tax bill until Friday morning while they scramble for potential tax increases to offset the cost of their cuts. She said she anxious that repealing this fee would drive up insurance premium costs, canceling out gains from tax cuts that many constituents might get from the bill.

The move will be seen as a major victory for Mr Trump, who since taking office has struggled to get major legislative movement in Congress - including fulfilling his vow to repeal and replace Obamacare.

Republicans have a two-seat Senate majority.

Some Democrats agreed that USA corporate taxes should be lowered, but insisted the Republican plan goes too far and would eventually trigger painful cuts to federal programs that benefit the poor and elderly in the future.

Vice President Mike Pence said in a speech to the Tax Foundation in mid-November that the administration would "cut the corporate tax rate from one of the highest in the developed world down to 20 percent - and not a penny more".

"My Republican friends will ultimately pay consequences for this bill in 2018 and beyond".

The Congressional Budget Office estimated that as many as 13 million people in the USA would become uninsured as a result of the repeal of the individual mandate.

Republicans insisted a vibrant economy was necessary for fiscal health, and that tax cuts would promote growth.

Independent Senator Bernie Sanders was among the most vocal critics, declaring during the debate that the American treasury was "being looted". "And that's what you heard on the floor tonight".

Democrats were angry about the last-minute revisions, complaining that they had not been given enough time to digest the almost 500-page document, with handwritten changes to the legislation.

Republican Senator Bill Cassidy also praised the bill, saying "working families and middle-income families across the nation will be better off".

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