Senate Republicans Aim to Torpedo House GOP Tax Reform Bill

If reports about the Republican Senate resonse to the House tax reform bill are true, we could be witnessing the GOP’s suicide. The House GOP tax bill is, as I’ve argued, a fundamentally flawed bill in some ways.  But in many others, it’s a pretty good one.  In what could only be described as an epic feat of failure, though, Senate Republicans are reportedly seeking to double down on its flaws, and undo much that is good about it. Let’s begin with a simple fact.  Not conjecture, but a fact.  A bill which cuts taxes for all Americans cannot be immediately revenue neutral for the government. Efforts to craft a tax bill which is revenue neutral requires that government pick winners and losers among its taxpayers, because immediate revenue neutrality can only be accomplished by zero-sum exchanges in order to achieve it.  For example, to cut taxes for the middle class while remaining revenue neutral would require that the same...(Read Full Article)