Republican Tax Bill - the final Bill

[Anonymous]

It looks like the House and Senate struck a deal and rather than reviving the old threads about the House and Senate version, I think we should begin a new one on the version they now have after conference.

A couple of things look good
The Student loan deduction survived and it looks like they got rid of the House's attempt to tax graduate students who receive tuition waivers.
Their SALT deduction "compromise" will be woefully inadequate for high tax states like CA, NY, NJ, MA etc. The compromise is to allow taxpayers to deduct upto $10,000 in state and local taxes including property and state income taxes. This will help some middle class families but it won't be enough for many UMC families in these states. The reporting is that Trump heard from many of his wealthy friends in the tristate area who complained about the SALT deduction going away and so he got them a decrease in the top marginal tax rate which went from 39.6% in the House version to 37%. That should definitely help people who earn over a $1 million deal at least partially with the loss of full SALT deductibility.
https://www.washingtonpost.com/business/economy/republicans-reach-compromise-tax-plan-expanding-tax-cuts-for-the-wealthy/2017/12/13/4f9ca66c-e028-11e7-bbd0-9dfb2e37492a_story.html?hpid=hp_rhp-top-table-main_tax-bill-1245pm%3Ahomepage%2Fstory&utm_term=.6e45def113e9

[Anonymous]

It still has to be scored, right?

[Anonymous]

Anonymous wrote:It still has to be scored, right?

Yes

[Anonymous]

At what income does the 37% kick in?

[Anonymous]

Anonymous wrote:At what income does the 37% kick in?

Somewhere between "recession" and "depression."

[Anonymous]

It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

[Anonymous]

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

Excuse me as I laugh myself to death.

You morons had how many years to come up with an alternative? Kept trying to repeal saying your unseen plan was better? Then finally get your wet dream of total government control and have...nothing?

Please...

[Anonymous]

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

The last 9 years weren't long enough?

[Anonymous]

Any gossip on what the Child Tax Credit will be? Not seeing this in the news today.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

Excuse me as I laugh myself to death.

You morons had how many years to come up with an alternative? Kept trying to repeal saying your unseen plan was better? Then finally get your wet dream of total government control and have...nothing?

Please...

+100000

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

Excuse me as I laugh myself to death.

You morons had how many years to come up with an alternative? Kept trying to repeal saying your unseen plan was better? Then finally get your wet dream of total government control and have...nothing?

Please...

+100000

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

Excuse me as I laugh myself to death.

You morons had how many years to come up with an alternative? Kept trying to repeal saying your unseen plan was better? Then finally get your wet dream of total government control and have...nothing?

Please...

Well, they could not get a repeal through the Senate so the repeal of the individual mandate helps to effectively undermine the ACA - effectively an appeal since it cannot survive without the individual mandate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is an excellent bill and best of all the individual mandate will be repealed. It will give us a chance to come up with a viable alternative to the ACA

Excuse me as I laugh myself to death.

You morons had how many years to come up with an alternative? Kept trying to repeal saying your unseen plan was better? Then finally get your wet dream of total government control and have...nothing?

Please...

+100000

+1

+1000000

[Anonymous]

can the bill be passed if it expands the deficit beyond the previously set limit?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It still has to be scored, right?

Yes

Sh*t, there goes the deduction for my 4 mil house in Northwest I just bought.