House panel backs bill to make Trump tax cuts permanent


But the Democratic former president warned that moderates "need to know they can invest their vote in the Democratic Party" in the November midterms and the 2020 presidential election.

According to Sunday reports, a dozen Republicans in blue states may vote against Tax Reform 2.0.

With an eye toward November's midterm elections, House Republicans on Monday unveiled legislation to make permanent the individual tax cuts and pass-through business deductions that were set to expire in 2026 as part of the sweeping tax rewrite enacted late past year.

Chairman of the House Ways and Means Committee Kevin Brady (R-TX) holds up a sample tax form as he speaks during a media briefing after the House Republican conference on Capitol Hill in Washington, U.S., April 17, 2018.

And some Republicans from Democratic-leaning states worry that constituents already dislike December's cap on the federal deduction for state and local tax payments, known as SALT. And in those same suburbs, Democrats enjoy a whopping 56-to-34-percent advantage over Republicans on who Americans are more likely to vote for. Deficit hawks as well as Democratic lawmakers - who were unanimous in opposing the tax legislation previous year - are asking how the Republicans intend to pay for the extended tax cuts.

Four high-tax states - Connecticut, Maryland, New Jersey and NY - already have sued the federal government over the cap, asserting it's aimed at hurting a group of Democratic states and tramples on their constitutional budget-making authority. But their message has been undercut by worries about Trump's policy on trade tariffs and a lack of evidence that tax cuts have delivered promised pay increases to workers.

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She said she is anxious that if she evacuates, she'll get caught up in the massive flooding that's expected to affect the region. Fortunately for House, he says this storm should not be a devastating event for the beach town in terms of loss of life.

"After handing massive unpaid-for tax breaks to Big Pharma, Wall Street and the wealthiest 1 percent with the first GOP tax scam for the rich, House Republicans are here with more of the same", House Democratic leader Nancy Pelosi said Monday.

House Republicans said the legislation on the tax cuts would add to economic momentum and create 1.5 million new jobs in the long run, citing numbers from the nonpartisan Tax Foundation.

Republicans say the legislation will also seek to encourage start-up businesses by allowing them to write off more start-up costs and add investors without limiting tax benefits, such as research and development credits. The Committee for a Responsible Federal Budget estimates that the legislation would cost $4 trillion over the next 20 years, or $5 trillion with interest.

Republicans insist that Trump's tax overhaul has helped boost the economy.

The new tax law enacted in December provides steep tax cuts for corporations and the wealthiest Americans, and more modest reductions for middle- and low-income individuals and families.

It is time for you to put country above political party in November. In July, 40 percent of registered voters in the Midwest approved of Trump's performance versus 38 percent in September, and his disapproval rating among Midwesterners jumped from 50 percent in July to 55 percent in September.