Daily Archives: December 10, 2017

GOP tax bill: the devil is in the details to derailing this terrible bill

The House and Senate conference committee will be meeting this week to hash out the differences between the House and Senate GOP tax bills to come up with a conformed bill that still must be passed by both chambers to become law.

There is a scenario or two in which this terrible tax bill falls apart. Jim Newell writes at Slate, How the Tax Deal Could Fall Apart:

The biggest development this week was that negotiators, for the first time in the process, seriously looked at reinstating some version of the state and local income tax deduction. There appear to be two reasons for this. The first would be the sizable, and mercurial, California GOP delegation in the House. Eleven out of 14 of these members voted for the original House bill—an odd move, since one of the bill’s ambitions is to redistribute Californian wealth elsewhere. Rather than flex their leverage in the original fight, though, they put their faith in Majority Leader Kevin McCarthy to ensure it’s fixed in conference. The second reason—and the one that explains why Californians might prevail—is that they appear to have an even greater ally in this fight than McCarthy: President Trump. The Washington Post reported this week that Trump’s rich friends in New York have been bitching to him about the SALT elimination. That goes a long way.

Even a modest retention would be costly. Eliminating the deductibility of state and local income taxes is a major revenue-raiser in both the House and Senate bills. Other pay-fors that were included in both the House and Senate bills might not last in the joint negotiations as well. There is a flat-out error in the Senate bill regarding the corporate alternative minimum tax, and the Senate’s last-minute decision to keep the individual AMT is meeting resistance as well. The House bill, which more aggressively pursued deductions for graduate students and those with major medical expenses, is also expected to be tamed.

What all this means is that conference negotiators are under pressure to find some hundreds of billions of dollars in new revenue to keep the bill’s net cost within $1.5 trillion over the next decade.

Continue reading

Political Calendar: Week of December 10, 2017

The Political Calendar is posted on Sundays. Please send us notice of your political events prior to the Sunday before your event (7 days would be most helpful). See the calendar icon in the right-hand column of the blog page for easy access to the calendar.

Send notices of your events to blogforarizona@gmail.com.

Note: For Event Notices and Fliers, click on the “Calendar” button in the menu options above.

Progressive_values

Political Calendar for the Week of December 10, 2017:

Sunday, December 10, 5:00 p.m.: Democratic Women of the Prescott Area Holiday Party, at the Hassayampa Marina Room, 122 East Gurley Street, Prescott. $50.00 per person, $90.00 per couple. To reserve your ticket, call Jan Manolis: 626-340-7060 or email info@demwomenprescottaz.com.

Monday, December 11, Noon: Democrats of Greater Tucson luncheon, Dragon’s View Restaurant (400 N. Bonita, South of St. Mary’s Road between the Freeway and Grande Avenue, turn South at Furr’s Cafeteria). New price: buffet lunch is $10.00 cash, $12 credit; just a drink is $3.50. Featured speaker is CD 2 candidate and former Congresswoman Ann Kirkpatrick. Next Week: Mark Gordon, candidate for AZ Secretary of State.

Continue reading

Cartoon of The Week

Cartoon_20

Cartoon_23

Screen Shot 2017-12-09 at 10.20.29 AM

Cartoon_44
Continue reading