WASHINGTON (Conspiracy Talk News) – Despite the magnitude and broad impact of the Trump $1.5 trillion tax reform, this would be the biggest and fastest victory Republicans would gain by passing this bill in Congress next week, and avoid another major legislative defeat for the party in the Donald Trump era.
Even if Republicans are right, that corporate and rich tax cuts stimulate the economy, the results would take time to become evident. And even if taxes are lowered for millions of families, many will not feel it until they file their 2018 taxes in 2019. That will be long after the elections in November 2018, where the balance in Congress could change, and recent contests indicate that many of the elections could be strongly influenced by the president’s unpopularity.
The sanction of the fiscal law seems certain, with approval in the House of Representatives and after two of his potential adversaries in the Senate gave their support Friday to the measure: Marco Rubio and Bob Corker.
That would mean a signing ceremony for the law in the White House probably for Christmas.
Republicans hope that this will eclipse their failure in the attempt to nullify Barack Obama’s health law (Obamacare). Another Donald Trump failure would have inflamed supporters and Republican donors already furious over the debacle of this health law, fueling extreme right-wing challenges in primaries against Republican lawmakers or even encouraging conservatives not to go to the polls in November.
If the tax law is not approved, “the reaction in the country will be: ‘Why do we support you?'” Said David Winston, a Republican party pollster who advises legislative leaders.
“Approving the law is necessary, but not enough for Republicans to retain control of Congress in 2018,” said Republican consultant Whit Ayres. “It gives the party a concrete achievement that they can present to voters, and that’s crucial. “
Democrats see in the tax reform as a political opportunity
The polls this month show that clear majorities oppose the law. According to surveys by Quinnipiac and Marist universities, at least 6 out of every 10 people say that the law would mainly help the rich.
Analysis of the Joint Committee on Taxation, a non-partisan congressional body, has shown that most of the benefits will be for wealthy corporations and families, with just modest help for low and middle income families, an angle of attack that Democrats are using already.