This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2017/11/30/us/politics/tax-overhaul-senate-debate.html

The article has changed 20 times. There is an RSS feed of changes available.

Version 5 Version 6
Republican Tax Overhaul Heads to the Senate Floor for Debate Republican Tax Plan Edges Closer to a Vote
(about 1 hour later)
Right Now: Senator McCain Says He’ll Vote ‘Yes’; Senator Collins Still Undecided. The Senate convened at 10:30 a.m. Thursday to continue discussing the bill after it passed a procedural vote on Wednesday.
The Senate convened at 10:30 a.m. Thursday to continue discussing the bill after it passed a procedural vote on Wednesday. Debate is limited to 20 hours, and Republicans are still talking about changes to their tax plan before its final approval. • Debate is limited to 20 hours and Democrats are doing most of the talking right now as Republicans hash out key details before a final vote.
• Though Republicans sound optimistic, party leaders still do not have firm commitments from enough senators to ensure the bill will pass.• Though Republicans sound optimistic, party leaders still do not have firm commitments from enough senators to ensure the bill will pass.
• Senator John McCain says he’ll vote ‘Yes’ on Senate tax bill, but Senator Susan Collins of Maine says she is still not committed to voting for the bill.• Senator John McCain says he’ll vote ‘Yes’ on Senate tax bill, but Senator Susan Collins of Maine says she is still not committed to voting for the bill.
• Main areas of contention are whether to include a trigger to offset deficit impact and how low to make the corporate tax rate.• Main areas of contention are whether to include a trigger to offset deficit impact and how low to make the corporate tax rate.
Senator John McCain, the Republican from Arizona who was the deciding vote against repealing the Affordable Care Act, said on Thursday that he will vote in favor of the Senate tax cut bill.Senator John McCain, the Republican from Arizona who was the deciding vote against repealing the Affordable Care Act, said on Thursday that he will vote in favor of the Senate tax cut bill.
“I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families,” Mr. McCain said in a statement.“I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families,” Mr. McCain said in a statement.
Mr. McCain was seen as a wild card because of his willingness to buck his party’s leadership in the health care vote earlier this year. He also voted against big Republican tax cut packages in 2001 and 2003.Mr. McCain was seen as a wild card because of his willingness to buck his party’s leadership in the health care vote earlier this year. He also voted against big Republican tax cut packages in 2001 and 2003.
Some Republicans were worried that Mr. McCain could vote against the bill because of his sour relationship with President Trump. But Mr. McCain said that he was satisfied that the tax overhaul went through “regular order” in the Senate, with sufficient public hearings and opportunities for amendments.Some Republicans were worried that Mr. McCain could vote against the bill because of his sour relationship with President Trump. But Mr. McCain said that he was satisfied that the tax overhaul went through “regular order” in the Senate, with sufficient public hearings and opportunities for amendments.
While he said he remained concerned about the deficit and acknowledged that the tax bill is not perfect, Mr. McCain said that on balance it would be good for the country.”It’s clear this bill’s net effect on our economy would be positive,” Mr. McCain said. While he said he remained concerned about the deficit and acknowledged that the tax bill is not perfect, Mr. McCain said that on balance it would be good for the country. “It’s clear this bill’s net effect on our economy would be positive,” Mr. McCain said.
“I’m ready to vote,” said Senator John Kennedy, Republican of Louisiana. “It is time for us to saddle up and ride and go vote.”
Senator Susan Collins remains a key senator to watch, given she has yet to commit to the bill and could be the deciding vote between a tax bill that passes and one that fails. On Thursday, Ms. Collins outlined some of her priorities and concerns at a breakfast sponsored by the Christian Science Monitor.Senator Susan Collins remains a key senator to watch, given she has yet to commit to the bill and could be the deciding vote between a tax bill that passes and one that fails. On Thursday, Ms. Collins outlined some of her priorities and concerns at a breakfast sponsored by the Christian Science Monitor.
On her vote:On her vote:
Ms. Collins said she remains concerned about the impact of the Senate plan to repeal the Affordable Care Act mandate that most Americans buy insurance or pay a penalty and also wants to ensure that taxpayers can continue to deduct some state and local taxes, a provision known as SALT.Ms. Collins said she remains concerned about the impact of the Senate plan to repeal the Affordable Care Act mandate that most Americans buy insurance or pay a penalty and also wants to ensure that taxpayers can continue to deduct some state and local taxes, a provision known as SALT.
Ms. Collins said that as of Thursday morning she was optimistic about the measures after conversations with President Trump and Senate leaders.Ms. Collins said that as of Thursday morning she was optimistic about the measures after conversations with President Trump and Senate leaders.
On the trigger:On the trigger:
Ms. Collins said she had concerns that if economic growth does not meet expectations, the trigger would be a gut punch to the economy at precisely the moment programs like Medicaid and unemployment compensation are most needed.Ms. Collins said she had concerns that if economic growth does not meet expectations, the trigger would be a gut punch to the economy at precisely the moment programs like Medicaid and unemployment compensation are most needed.
On the corporate tax rate:On the corporate tax rate:
Ms. Collins said she was open to nudging the corporate tax rate above the 20 percent currently envisioned in the Senate bill.Ms. Collins said she was open to nudging the corporate tax rate above the 20 percent currently envisioned in the Senate bill.
On automatic spending cuts that could be required by tax bill:On automatic spending cuts that could be required by tax bill:
Ms. Collins said she expected that a waiver of the so-called PAYGO requirements would be included in a year-end spending bill.Ms. Collins said she expected that a waiver of the so-called PAYGO requirements would be included in a year-end spending bill.
On an amendment that would close the carried interest loophole:On an amendment that would close the carried interest loophole:
The Senate version of the bill would not end the loophole but would simply extend the minimum holding period for investments that qualify for the tax break to three years from one.The Senate version of the bill would not end the loophole but would simply extend the minimum holding period for investments that qualify for the tax break to three years from one.
The Senate cleared a procedural hurdle on Wednesday with its vote to begin debating the tax bill, and early remarks from lawmakers offered a preview of what that debate will probably center on.The Senate cleared a procedural hurdle on Wednesday with its vote to begin debating the tax bill, and early remarks from lawmakers offered a preview of what that debate will probably center on.
“This is an historic day as the Senate begins consideration of tax reform that will help boost America’s economy, that will create more jobs and that will leave more money in people’s paychecks,” said Senator Michael B. Enzi, Republican of Wyoming and the chairman of the Budget Committee.“This is an historic day as the Senate begins consideration of tax reform that will help boost America’s economy, that will create more jobs and that will leave more money in people’s paychecks,” said Senator Michael B. Enzi, Republican of Wyoming and the chairman of the Budget Committee.
Mr. Enzi offered a warning about the coming debate.Mr. Enzi offered a warning about the coming debate.
“You’re probably going to hear a lot of screaming going on in speeches this week,” he said. “Please don’t confuse volume with veracity or truth.”“You’re probably going to hear a lot of screaming going on in speeches this week,” he said. “Please don’t confuse volume with veracity or truth.”
Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee, offered another kind of warning.Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee, offered another kind of warning.
“The Senate is 20 hours of debate away from a broken promise of truly historic proportions,” he said on Wednesday. This year, he said, was supposed to be when “the working people of America regained a powerful voice in Washington.”“The Senate is 20 hours of debate away from a broken promise of truly historic proportions,” he said on Wednesday. This year, he said, was supposed to be when “the working people of America regained a powerful voice in Washington.”
“Instead of a strong voice, what they got instead was a big con job,” Mr. Wyden said. “If this Republican tax bill passes, Washington is going to reach into the pockets of working Americans and cut a big check to multinational corporations, to tax cheats and to the politically powerful and well-connected.”“Instead of a strong voice, what they got instead was a big con job,” Mr. Wyden said. “If this Republican tax bill passes, Washington is going to reach into the pockets of working Americans and cut a big check to multinational corporations, to tax cheats and to the politically powerful and well-connected.”
On Thursday morning, Senator Mitch McConnell of Kentucky, the majority leader, expressed optimism about passing the tax overhaul.On Thursday morning, Senator Mitch McConnell of Kentucky, the majority leader, expressed optimism about passing the tax overhaul.
“We’re on the cusp of a great victory for the country,” he said, adding that Senate Republicans were “headed toward the finish line either late tonight or early tomorrow.”“We’re on the cusp of a great victory for the country,” he said, adding that Senate Republicans were “headed toward the finish line either late tonight or early tomorrow.”
Senator Chuck Schumer of New York, the Democratic leader, criticized Republicans for how they had undertaken the tax overhaul, complaining that they had shut out Democrats as they put together their bill.Senator Chuck Schumer of New York, the Democratic leader, criticized Republicans for how they had undertaken the tax overhaul, complaining that they had shut out Democrats as they put together their bill.
Mr. Schumer said the Republican tax bill had made “a mockery of the legislative process,” and he pleaded for Republicans to work with Democrats on taxes instead of moving forward with the current tax plan.Mr. Schumer said the Republican tax bill had made “a mockery of the legislative process,” and he pleaded for Republicans to work with Democrats on taxes instead of moving forward with the current tax plan.
“If my Republican friends close the door on their partisan tax bill tonight,” he said, “they will find an open door for bipartisan tax reform tomorrow.”“If my Republican friends close the door on their partisan tax bill tonight,” he said, “they will find an open door for bipartisan tax reform tomorrow.”
President Trump criticized The New York Times on Thursday in a pair of early morning Twitter posts about its coverage of the Republican’s tax plan.President Trump criticized The New York Times on Thursday in a pair of early morning Twitter posts about its coverage of the Republican’s tax plan.
“The Failing @nytimes, the pipe organ for the Democrat Party, has become a virtual lobbyist for them with regard to our massive Tax Cut Bill,” Mr. Trump wrote in one of his posts. An editorial criticizing the Senate tax bill was published Wednesday online and in Thursday’s print editions. The Editorial Board, which writes editorials, is separate from the newsroom.“The Failing @nytimes, the pipe organ for the Democrat Party, has become a virtual lobbyist for them with regard to our massive Tax Cut Bill,” Mr. Trump wrote in one of his posts. An editorial criticizing the Senate tax bill was published Wednesday online and in Thursday’s print editions. The Editorial Board, which writes editorials, is separate from the newsroom.
The president also accused the news organization of violating its own social media guidelines after the NYT Opinion account shared on Twitter the phone numbers for two Republican senators’ offices. However, as one senior Times editor posted in a tweet, “The president is mistaken.” The guidelines, designed to avoid bias in social media posts, do not apply to the Opinion department’s posts.The president also accused the news organization of violating its own social media guidelines after the NYT Opinion account shared on Twitter the phone numbers for two Republican senators’ offices. However, as one senior Times editor posted in a tweet, “The president is mistaken.” The guidelines, designed to avoid bias in social media posts, do not apply to the Opinion department’s posts.
“I was a co-author of the expanded social media guidelines. They apply to the NYT newsroom, not to NYT Opinion,” Cliff Levy, a newsroom deputy managing editor, tweeted in response to the president’s post.“I was a co-author of the expanded social media guidelines. They apply to the NYT newsroom, not to NYT Opinion,” Cliff Levy, a newsroom deputy managing editor, tweeted in response to the president’s post.
The Times echoed that in its own Twitter post.The Times echoed that in its own Twitter post.
Mr. Trump himself received criticism for publicly sharing a phone number. He once gave out the cellphone number of Senator Lindsey Graham, Republican of South Carolina, during the 2016 presidential campaign.Mr. Trump himself received criticism for publicly sharing a phone number. He once gave out the cellphone number of Senator Lindsey Graham, Republican of South Carolina, during the 2016 presidential campaign.
The administration pledged official support on Thursday for the tax bill pending in the Senate, an unsurprising move that confirmed Mr. Trump’s promise to a Missouri crowd on Wednesday that he would sign the bill if it reached his desk.The administration pledged official support on Thursday for the tax bill pending in the Senate, an unsurprising move that confirmed Mr. Trump’s promise to a Missouri crowd on Wednesday that he would sign the bill if it reached his desk.
“The Administration strongly supports Senate passage” of the bill, officials wrote in a statement of administrative policy, because it would reduce taxes for businesses and middle class families and simplify the tax code. The statement also praised provisions in the bill to repeal the individual health insurance mandate under the Affordable Care Act and to open part of the Arctic National Wildlife Refuge for oil drilling.“The Administration strongly supports Senate passage” of the bill, officials wrote in a statement of administrative policy, because it would reduce taxes for businesses and middle class families and simplify the tax code. The statement also praised provisions in the bill to repeal the individual health insurance mandate under the Affordable Care Act and to open part of the Arctic National Wildlife Refuge for oil drilling.
If the bill were presented to Mr. Trump, the statement said, “his advisors would recommend that he sign the bill into law.” If the bill were presented to Mr. Trump, the statement said, “his advisers would recommend that he sign the bill into law.”
The complaints from Mr. Wyden and other Democrats carry limited weight because Republicans can — and plan to — pass their bill without any Democratic votes.The complaints from Mr. Wyden and other Democrats carry limited weight because Republicans can — and plan to — pass their bill without any Democratic votes.
Republicans are using special procedures that shield the measure from a Democratic filibuster. Debate on the legislation is limited to 20 hours. When the debate ends, it will be time for a vote-a-rama, a marathon of amendment votes. Eventually, the Senate would vote to pass the tax bill.Republicans are using special procedures that shield the measure from a Democratic filibuster. Debate on the legislation is limited to 20 hours. When the debate ends, it will be time for a vote-a-rama, a marathon of amendment votes. Eventually, the Senate would vote to pass the tax bill.
But before then, the contents of that bill are expected to change.But before then, the contents of that bill are expected to change.
Republicans have been discussing significant revisions to their bill as party leaders try to secure the votes they need for passage. Those discussions will continue on Thursday as the debate plays out on the Senate floor.Republicans have been discussing significant revisions to their bill as party leaders try to secure the votes they need for passage. Those discussions will continue on Thursday as the debate plays out on the Senate floor.