Both the House and the Senate have unveiled their own differing tax reform bills. The Senate is including a repeal of the Obamacare mandate in theirs. But will the Republican coalition hold?
First Republican Dissenter
Wisconsin Senator Ron Johnson became the first Republican to come out against his party’s own bills in both the House and Senate. Naturally, this set off panic in the Capitol building. The house is set to vote on their bill on Thursday. Johnson declared that he would vote against it as written. Several other Republican Senators expressed concern about the bill’s potential impact on the middle class.
Johnson argued that the bill favor large corporations instead of small businesses. “These businesses truly are the engines of innovation and job creation throughout our economy, and they should not be left behind,” he said. “Unfortunately, neither the House nor Senate bill provide fair treatment, so I do not support either in their current versions,” Johnson added.
McCain, Collins and Corker Skeptical
Senators Susan Collins, John McCain, and Bob Corker have also expressed concern. They have not said whether they will or will not vote for the bill.
“There’s other senators who themselves want to ensure that we’re doing something to strengthen our country relative to the deficits,” said Corker. He added, “I’m not a yes, I’m not a no.”
Republicans in the Senate can’t afford too many dissenting votes here. They have a razor thin majority. There’s strong possibility
What Do Americans Think?
According to Quinnipiac poll released Wednesday, 52% of American voters disapprove of the GOP tax proposal. Sixty-one percent of the respondents said the tax plan mainly favors the wealthy over the middle class. Only 36% said that the proposal would lead to job creation and wage growth.
Although the House and Senate bills are different that overlap in that they cut the corporate tax rate and adjust individuals ones. One area of major contention is deducting state and local property taxes from federal taxes. The Senate bill scraps state and local deductions, while the House keeps them in place.