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A new Quinnipiac poll finds that American voters disapprove of the Republican tax plan by a 52% to 25% margin. Republican voters approve 60% to 15%, with 26% undecided. All other party, gender, education, age and racial groups disapprove.
$1.7 trillion
CNBC: “The GOP bill including some changes would increase federal budget deficits by $1.7 trillion over 10 years, according to Joint Committee on Taxation estimates shared by the nonpartisan Congressional Budget Office. That includes money for additional debt service payments due to the bill. … Under budget rules congressional Republicans are using to pass a tax plan, the bill can only increase deficits by $1.5 trillion over 10 years, before growth is taken into account.”
“My donors are basically saying, ‘Get it done or don’t ever call me again.’”
— Rep. Chris Collins (R-NY), quoted by Vox, on the Republican tax reform bill.
$1.7 trillion
“The Penn-Wharton model shows that the House GOP tax bill would reduce tax revenue by $1.7 trillion over the next 10 years. That exceeds the $1.5 trillion permitted under the budget ‘reconciliation’ rules that allow Senate Republicans to sidestep Democratic filibusters,” reports CNBC. “Moreover, the Penn-Wharton model projects that the House GOP bill would lost another $2.6 trillion in revenue during the 12 years after 2027. Under the no-filibuster rules, the tax bill would not be permitted to increase the deficit at all after its first 10 years.”
12%
“House Republicans’ tax bill would increase taxes for 12 percent of Americans next year, according to a new report from the nonpartisan Tax Policy Center. By 2027, at least 28 percent of Americans would see their taxes rise, the report says. Many of those taking a hit would be people who make less than $48,000 a year,” the Washington Post reports.
17 points
A new ABC News-Washington Post poll finds Americans oppose President Trump’s emerging tax plan by broad a 17-point margin, with 60% saying it favors the wealthy -– including six in 10 of the wealthy themselves.
