Republicans bank on tax cuts to keep the House in midterms

Republicans bank on tax cuts to keep the House in midterms

The House Republican lawmakers revealed on Monday, Sept. 10, their plan to make the 2017 tax cuts for individuals more permanent with the intent to sway the voters for the upcoming elections in November, per Bloomberg.

Republicans are eager to claim victory for the economic achievements in the past 22 months, which they see as necessary to maintaining their control of the House and the Senate, and quick to warn of the economic perils that could follow if Democrats win control of Congress.

Democrats say those cuts mainly helped the wealthy and corporations.

Members of the tax-writing House Ways and Means Committee voted 21-15 along party lines to send the measure to the House floor for a full chamber vote expected by Oct 1.

Passage in the Senate would require a 60-vote supermajority because the legislation would add to the already burgeoning federal deficit.

That number could rise if Republicans made an estimated $1.1 trillion in individual tax cuts permanent, but scaled back or eliminated the SALT deduction cap, which is a revenue raiser.

Officials with the main House Democratic "super pac", the House Majority Fund, said their polling in August showed 17 incumbent Republicans trailing and six tied - almost enough to recapture the majority without even factoring in the open seats the G.O.P.is defending. Making the tax cuts permanent would build on the tax law's economic boost by adding 1.5 million new jobs and increasing wages, he said. Strikingly, when the group this month surveyed some of the same districts where Republicans had unleashed a barrage of negative ads, they found that Democratic candidates had only slipped a little and the races remained within the polling margin of error.

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The president now faces accusations of incompetence and ill-preparedness to handle the top job while having put together several legal teams to handle accusations of rape and his alleged "collusion" with Russian Federation.

Republicans say the legislation will also seek to encourage start-up businesses by allowing them to write off more start-up costs and add investors without limiting tax benefits, such as research and development credits. This has put Republican lawmakers in high-tax states like New York, New Jersey, California, Illinois and Minnesota in a hard position because they would either support a provision that would put their states in a vulnerable place or oppose a bill that is backed by their own party.

House Republican leaders are portraying the second crack at tax cuts as championing the middle class and small businesses.

According to Axios' White House sources, President Trump is well aware of the fact that the Democratic Party could take over the House.

It is time for you to put country above political party in November.

Small businesses are benefitting the most. Obama, who saw GDP growth of just over 1 percent, doubted that Trump could achieve 4 percent expansion.

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