GETTING SERIOUS – AT 10:46 A.M. ET: Can it be true? Am I reading this right? Are the Republicans actually getting serious about tax cuts? From The Hill:
Speaker Paul Ryan (R-Wis.) said Thursday that he'd keep lawmakers in Washington at Christmas time to vote on a tax bill if necessary.
"I mean, I don't care. We got to get this done," the speaker said at the Heritage Foundation.
Ryan said that Congress is "on track" to get a tax-reform bill enacted by the end of the year. He noted that the House passed its budget resolution with tax-reform instructions last week, and the Senate plans to advance its measure next week.
The speaker predicted that the House will send a tax bill to the Senate in November. "That gives us time to get this thing done in law," he said.
Ryan said that if a new tax system is in place at the beginning of 2018, he thinks the U.S. could grow by at least 3 percent next year. The Trump administration has also been calling for tax reform to boost growth to 3 percent.
"The difference between a 2 percent and a 3 percent economy is trillions," Ryan said. "It's higher wages, bigger paychecks, more take-home pay, and growth and opportunity abound. It really is that big of a difference."
COMMENT: Okay, guys, let's go. And Sen. Mitch McConnell has got to work overtime to keep his troops in line. Republicans only have a two-seat majority in the Senate.
It might not be a bad idea to try to get some Democratic Senate support. There are Dem senators up for re-election from red states who will be hard pressed to explain why they voted against a tax cut.
October 12, 2017 |