House passes Senate tax bill, heads to Trump who touts ‘Jobs jobs jobs’
The House of Representatives passed the Senate tax reform package Wednesday afternoon, sending the the legislation to President Donald Trump’s desk for his signature.
The bill passed the House a second time 224-201, with no Democrats backing it and a dozen House GOP members voting no.
The Senate approved the final version of the first overhaul of the US tax code in more than 30 years. The bill passed along party lines, 51-48, with the final result announced by Vice President Mike Pence, who presided over the vote. The House passed the bill earlier Tuesday, but technical changes were made to it in the Senate.
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Trump plans to thank congressional leaders for their hard work at the White House celebration, economic adviser Gary Cohn said at an event hosted by Axios.
The event will take on a “celebratory atmosphere,” Cohn said, but Trump will remind the Republican leaders from the House and Senate they “still have a lot of work to do.”
“The Tax Cuts are so large and so meaningful, and yet the Fake News is working overtime to follow the lead of their friends, the defeated Dems, and only demean. This is truly a case where the results will speak for themselves, starting very soon. Jobs, Jobs, Jobs!” the President tweeted.
House Speaker Paul Ryan appeared on several morning shows Wednesday to defend the legislation he’s worked toward since 1993.
“When (the bill) gets in place, when people see their paychecks getting bigger in February because withholding tables have adjusted to reflect their tax cuts, when businesses are keeping more of what they earn, when they can write off their spending and hire more people, that’s going to change its popularity, I am convinced,” he told CBS in an interview. “So I think there’s just tons of confusion out there as to what this does or doesn’t do. A lot of people think it’s going to raise their taxes. So the proof is in the pudding, and I think the results will speak for themselves.”
Yesterday Democrats became more vocal in their opposition to the tax cuts.
“House Republicans just passed the greatest tax scam in American history,” California’s Barbara Lee said in a statement. “The Tax Cuts and Jobs Act is not tax reform, it’s a crooked scheme that steals from the hard-earned pay checks of low and middle income families just to line the pockets of millionaires, billionaires and wealthy corporations. Independent economic experts have weighed in and one thing is certain: this bill only benefits the rich.
“…the Tax Policy Center found that under this bill more than half of all Americans would face tax increases in the next ten years. That means 86 million middle-income households will see their taxes go up, just so Republicans can line the pockets of millionaires, billionaires and wealthy corporations. Make no mistake, the Republican tax scam is corrupt to its core.”
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Some took issue with the lack of language to help Puerto Rico.
José Calderón, President of Hispanic Federation: “It’s as if the Republican leadership in Congress saw the challenges facing Puerto Rico, and then decided to pass a bill to make them all worse. Congress still has an opportunity to get this right by removing the 12.5 percent tax on intellectual property for companies operating in the island, and making tax benefits and incentives like the Child Tax Credit and EITC available for Puerto Rico’s working families. We will not stop fighting until our federal government does what’s right for the people of Puerto Rico.”
Eric Rodriguez, Vice President of UnidosUS (formerly National Council of La Raza): “In their effort to enact a massive corporate tax cut, Congress should do no harm to Puerto Rico. The Island is already facing overwhelming challenges in recovering from a devastating natural disaster and fiscal crisis. Now that tax reform is done, Congress ought to urgently respond to the dire humanitarian needs of Puerto Rico’s families, who are U.S. citizens by birth. Lawmakers can help by immediately providing the necessary resources to revive Puerto Rico’s healthcare system, social service sector, and workforce. The 3.4 million Americans in Puerto Rico deserve to be treated equally. Congress should act now.”
