Susan Collins Says to Help the Middle Class, The Wealthy Need Less of a Tax Cut
Wochit Headline News - November 14, 2017
Republicans in Congress passed a budget resolution that says the tax bill can't grow the deficit by more than $1.5 trillion over a decade. This isn't just a goal — it's legally binding.
The legislative process they're using to try to pass the bill obligates them to hit the mark they set for themselves.
It also bars them from growing the deficit at all after that first decade.
The bill recently proposed by Senate Republicans just barely meets the first specification and doesn't meet the second.
One Republican senator — Susan Collins of Maine — is acknowledging the the problem and how to fix it.
Collins wants to cut taxes less for corporations and rich people so middle-income families could get a tax cut.
The main political and substantive problem with the Republican tax plan is that most of its benefits are reserved for very wealthy people or for businesses, which are mostly owned by very wealthy people.
And because the proposed tax cut is limited in size, if you want to give more tax relief to middle-income families, you'd have to give less to very wealthy people and to businesses..
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