Breaking: The Tax Reform Has Just Been Terminated


Well, this has become a tradition of the Senate. GOP Congressmen recently announced a bill which is to address a big-ticket campaign item, the Senate takes a look at it, and as usual, does nothing!

Obtained by The Federalist Papers Project:

Fox Business Network senior correspondent Charles Gasparino is reporting on Twitter that Arizona Republican Senator and longtime thorn in the conservative movement’s side John McCain just told him the tax reform plan unveiled by the GOP last week will effectively be dead on arrival if it makes it to the Senate:

Zero Hedge has more on both why McCain withholding his vote is a death knell and why the plan might not even make it to the Senate:

On Monday, Susan Collins declared her opposition to repealing the tax on multimillion-dollar estates. The current bill includes such a repeal, and many House conservatives seem deeply attached to repealing what Republicans have successfully tagged as “the death tax.” And for months now, Bob Corker has also insisted that he wouldn’t vote for any tax plan that adds even a penny to the debt, even during the first ten years, where Congress would legally be allowed to do so. As it stands, the House plan would increase the deficit by a total of $1.5 trillion over ten years.

And at this rate, it’s unclear if the plan in its current form will even pass the House. Republican lawmakers from blue states hammered Ways and Means Chairman Kevin Brady about measures in the bill to repeal deductions for state and local taxes, while lowering the cap on the mortgage interest-rate deduction to $500,000. It would also eliminate deductions for student-loan interest. Controversially, it will also add an excise tax for corporations involved in cross-border payments that has drawn the ire of the US business community and its army of lobbyists.

In September, the senator long dubbed “Maverick” for pulling this crap on issue after issue declared that tax reform needed to be done “in a bipartisan fashion.” As I explained on TFPP that month when McCain helped kill the Graham-Cassidy Obamacare repeal plan on much the same grounds, the Democrats lost the election because a majority of the American people don’t want their ideas baked into legislation anymore. They don’t have the American people’s best interests at heart. They deserve no seat at the table, and giving them one guarantees the policies of the next four years will at least be half bad.

Republicans were sent to Congress to protect the country from leftist ideas, not to endlessly salvage them…but the likes of John McCain don’t care about the good of the country, at least not anymore. Their self-image takes priority over their sworn duty.

That said, while McCain is opposing it for the wrong reasons, this bill going down wouldn’t exactly be the same as losing the Graham-Cassidy Obamacare repeal. As I detailed last week, this bill does a variety of good things, but it leaves out a lot of far greater reforms we should be taking this opportunity to pursue, and it actually adds a new, higher top tax bracket of 46%.

This is ridiculous. A real Republican party wouldn’t even be having this conversation right now, because a serious tax reform bill, a free-market Obamacare repeal plan, and about a dozen other piece of conservative legislation that would make liberals’ heads explode would have already been signed on January 20 when the newly-inaugurated president found them already passed and waiting on his desk.

But instead we get this ongoing farce on issue after issue. House and Senate GOP leadership is a cancerous mix of incompetent, cowardly, and disinterested, with a conservatism that is halfhearted at best. Donald Trump’s administration has been vastly more conservative than his detractors predicted, but is failing to provide clear leadership or direction about Congress’s priorities and inadequacies. And unless they are called out for it sooner rather than later, the consequences will be catastrophic.

This is such a huge led-down for the U.S. and the American people. But, one thing we got perfectly clear is that this kind of move is to be expected by the Arizona Senator, who, obviously, doesn’t miss an opportunity to object President Trump and backstab the GOP. If the Senate continues at this rate, the people will eventually grow sick and tired of their incompetence and neglect and stop voting entirely.

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