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| Trump Visits Capitol Hill as House Prepares to Vote on Tax Bill | |
| (35 minutes later) | |
| • A new analysis from the Joint Committee on Taxation shows that under the Senate bill, lower-income Americans will see their taxes go up in 2021. | • A new analysis from the Joint Committee on Taxation shows that under the Senate bill, lower-income Americans will see their taxes go up in 2021. |
| • The JCT analysis roiled the Senate Finance Committee, which is debating the bill ahead of a vote expected on Friday | • The JCT analysis roiled the Senate Finance Committee, which is debating the bill ahead of a vote expected on Friday |
| • The House is poised to vote on its version of a $1.5 trillion tax cut today. | • The House is poised to vote on its version of a $1.5 trillion tax cut today. |
| • Ahead of the vote, President Trump visited Capitol Hill to rally the Republican lawmakers behind the legislation. | |
| The Joint Committee on Taxation said on Thursday that the amended Senate’s version of the tax bill will raise taxes on low-income Americans beginning in 2021, in what appears to be a side effect of the bill’s decision to repeal the so-called individual mandate that requires most people buy health insurance under the Affordable Care Act. | The Joint Committee on Taxation said on Thursday that the amended Senate’s version of the tax bill will raise taxes on low-income Americans beginning in 2021, in what appears to be a side effect of the bill’s decision to repeal the so-called individual mandate that requires most people buy health insurance under the Affordable Care Act. |
| Because of this decision, the joint committee’s analysis showed that taxpayers earning less than $40,000 would see their tax bills go up in the second half of the next decade. | Because of this decision, the joint committee’s analysis showed that taxpayers earning less than $40,000 would see their tax bills go up in the second half of the next decade. |
| The committee also forecast that taxpayers earning $75,000 or less would see, as a group, large tax increases in 2027, if the individual tax cuts in the bill expire as scheduled at the end of 2025. Those tax increases would be relative to current law — meaning that those taxpayers would be worse off in 2027 than they would have been if the bill had not become law. | The committee also forecast that taxpayers earning $75,000 or less would see, as a group, large tax increases in 2027, if the individual tax cuts in the bill expire as scheduled at the end of 2025. Those tax increases would be relative to current law — meaning that those taxpayers would be worse off in 2027 than they would have been if the bill had not become law. |
| Senator Ron Wyden of Oregon, the ranking Democrat on the Finance Committee, called the joint committee analysis “astounding” and warned that middle-class taxpayers would get “clobbered” under the latest Republican plan. | Senator Ron Wyden of Oregon, the ranking Democrat on the Finance Committee, called the joint committee analysis “astounding” and warned that middle-class taxpayers would get “clobbered” under the latest Republican plan. |
| “When you’re reaching for the cranberry sauce, Republicans are going be reaching for your pocketbooks to give handouts to multinational corporations,” Mr. Wyden said. | “When you’re reaching for the cranberry sauce, Republicans are going be reaching for your pocketbooks to give handouts to multinational corporations,” Mr. Wyden said. |
| Senator Orrin Hatch of Utah, the Republican chairman of the finance committee, said that the appearance of a tax increase was a mirage that is the result of arcane scoring rules. Because people will no longer have to purchase health insurance, they may no longer receive tax credit subsidies for insurance that they do not purchase. | Senator Orrin Hatch of Utah, the Republican chairman of the finance committee, said that the appearance of a tax increase was a mirage that is the result of arcane scoring rules. Because people will no longer have to purchase health insurance, they may no longer receive tax credit subsidies for insurance that they do not purchase. |
| “Without those credits, they see an overall uptick in their tax liability,” Mr. Hatch said. | “Without those credits, they see an overall uptick in their tax liability,” Mr. Hatch said. |
| The debate then devolved into an argument over what really counts as an increase and the murkiness of government scorekeeping, which Senator Patrick Toomey, the Republican of Pennsylvania, called “ridiculous.” | The debate then devolved into an argument over what really counts as an increase and the murkiness of government scorekeeping, which Senator Patrick Toomey, the Republican of Pennsylvania, called “ridiculous.” |
| Uninterested in letting go of numbers that supported his argument that the Republican tax plan is bad for the middle class, Mr. Wyden dismissed Mr. Toomey’s concerns. | Uninterested in letting go of numbers that supported his argument that the Republican tax plan is bad for the middle class, Mr. Wyden dismissed Mr. Toomey’s concerns. |
| “I’ve never heard a senator try to psychoanalyze a Joint Committee on Taxation table,” he said. | “I’ve never heard a senator try to psychoanalyze a Joint Committee on Taxation table,” he said. |
| The House is poised on Thursday to pass a sweeping rewrite of the tax code along party lines and lawmakers are making their last-ditch statements for and against the bill. | The House is poised on Thursday to pass a sweeping rewrite of the tax code along party lines and lawmakers are making their last-ditch statements for and against the bill. |
| The legislation, which would include a $1.5 trillion tax cut, was expected to pass the House. But several New Jersey and New York Republicans are expected to oppose the bill because it eliminates the ability of taxpayers to deduct state and local income and sales taxes and caps property tax deductions at $10,000. Democrats are also opposed to the bill, saying it will not help the middle-class and will help the wealthiest Americans. | The legislation, which would include a $1.5 trillion tax cut, was expected to pass the House. But several New Jersey and New York Republicans are expected to oppose the bill because it eliminates the ability of taxpayers to deduct state and local income and sales taxes and caps property tax deductions at $10,000. Democrats are also opposed to the bill, saying it will not help the middle-class and will help the wealthiest Americans. |
| Even if it passes, this is not the end of the debate. The Senate is still discussing its version of the bill and the Senate Finance Committee is expected to vote on the legislation on Friday. The full Senate is expected to vote after Thanksgiving. | Even if it passes, this is not the end of the debate. The Senate is still discussing its version of the bill and the Senate Finance Committee is expected to vote on the legislation on Friday. The full Senate is expected to vote after Thanksgiving. |
| Here are some of the latest developments and comments from lawmakers as the House stands on the precipice of a momentous tax cut. | Here are some of the latest developments and comments from lawmakers as the House stands on the precipice of a momentous tax cut. |
| “I just have too many constituents who are going to see their taxes go up,” Representative Lee Zeldin, Republican of New York, who plans to vote against the bill, said at a news conference. “You’re taking more money from a place like New York in order to pay for deeper tax cuts elsewhere,” Mr. Zeldin said. | “I just have too many constituents who are going to see their taxes go up,” Representative Lee Zeldin, Republican of New York, who plans to vote against the bill, said at a news conference. “You’re taking more money from a place like New York in order to pay for deeper tax cuts elsewhere,” Mr. Zeldin said. |
| At least five Republicans from New York plan to vote against the tax bill including Mr. Zeldin: Dan Donovan, John J. Faso, Peter T. King and Elise Stefanik. And at least three from New Jersey also intend to vote no: Leonard Lance, Frank A. LoBiondo and Christopher H. Smith. | |
| Mr. Donovan, the lone House Republican from New York City, said he and his New York colleagues wanted to cut taxes.”But not on the backs of our constituents,” he said. | |
| “For the first time in 31 years we are wiping the tax code clean and replacing it with one that is fairer and simpler for everyone,” said Representative Devin Nunes, Republican of California. | “For the first time in 31 years we are wiping the tax code clean and replacing it with one that is fairer and simpler for everyone,” said Representative Devin Nunes, Republican of California. |
| “For almost a decade, Americans suffered under Obamanomics,” said Representative Jeb Hensarling, Republican of Texas. “Their savings remained decimated, their paychecks were stagnant, and their American dreams were diminished.” | “For almost a decade, Americans suffered under Obamanomics,” said Representative Jeb Hensarling, Republican of Texas. “Their savings remained decimated, their paychecks were stagnant, and their American dreams were diminished.” |
| Now, he declared, “a new day has dawned.” | Now, he declared, “a new day has dawned.” |
| “We are on the precipice of passing a fairer, flatter, simpler, more competitive tax code, one built for three percent-plus economic growth,” Mr. Hensarling said. | “We are on the precipice of passing a fairer, flatter, simpler, more competitive tax code, one built for three percent-plus economic growth,” Mr. Hensarling said. |
| “This is a horror show today,” Representative John Yarmuth of Kentucky, the top Democrat on the House Budget Committee. “This is a horror show debate. This is a horror show process. But it’s a disaster for the American people. The bill we are debating today will abandon millions of American families.” | “This is a horror show today,” Representative John Yarmuth of Kentucky, the top Democrat on the House Budget Committee. “This is a horror show debate. This is a horror show process. But it’s a disaster for the American people. The bill we are debating today will abandon millions of American families.” |
| “This is a historic moment, but most importantly it’s a missed opportunity,” said Representative Richard Neal, Democrat of Massachusetts. “What we’re being asked to do here today is to raise taxes on 36 million middle-class Americans.” | “This is a historic moment, but most importantly it’s a missed opportunity,” said Representative Richard Neal, Democrat of Massachusetts. “What we’re being asked to do here today is to raise taxes on 36 million middle-class Americans.” |
| Another Democrat, Representative Joseph Crowley of New York, began shouting from the lectern about the drawbacks of the bill. | Another Democrat, Representative Joseph Crowley of New York, began shouting from the lectern about the drawbacks of the bill. |
| “Republicans and President Trump are doling out tax breaks for companies to move overseas but will take away benefits to hire American veterans right here at home.” | “Republicans and President Trump are doling out tax breaks for companies to move overseas but will take away benefits to hire American veterans right here at home.” |
| “On behalf of hard working Americans throughout this country I say vote no on HR 1. Vote no on HR 1 percent.” | “On behalf of hard working Americans throughout this country I say vote no on HR 1. Vote no on HR 1 percent.” |