CHN: House Passes More Tax Cuts
On September 30, the House passed (220-191) a bill that would make permanent the tax cuts for individuals enacted as part of the GOP tax cut bill passed in December 2017. Only three Democrats voted in favor of the bill; 10 Republicans opposed it.
According to the Tax Policy Center, the provisions of the package would cost as much as $3 trillion over a ten-year period, 50 percent more than the almost $2 trillion cost of the first round of tax cuts passed last year. In a statement, CHN’s Executive Director Deborah Weinstein said, “The tax scam 2.0 passed today by the House is another measure that benefits the wealthy, campaign donors, and high-income business owners, all at the expense of working families.” The Senate is not expected to take up the package this year.