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Saturday, December 02, 2017

The Senate passed its tax reform bill in the early hour of Saturday morning, following a day full of Republican leaders making changes to bring enough members on board and a long night full of heated rhetoric on both sides of the aisle. ... Congressional negotiators continued to make changes to the bill -- including handwriting alterations on to the document -- up until just hours before the final vote, with Democrats sharply criticizing Republicans for not giving members enough time to read the sweeping legislation that would overhaul the US tax system. American Enterprise Institute fellow Marc Thiessen writes, "Americans see Republicans spending $1.5 trillion to fund a massive corporate tax rate reduction from 35 to 20 percent. The multinationals are taken care of, as is the donor class. The middle class? Not so much. They are losing many of their cherished tax deductions in exchange for a doubling of the standard deduction, an increase in the child tax credit and a tiny reduction in their tax rates." read more


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