by Ruby Henley
It really gets old, as President Trump struggles to bring tax reform to the American people, the GOP has to put up some type of roadblock. This time it is Senator Bob Corker (R-Tenn), who just had to get in a few stabs at President Trump. I wish they all could just accept Trump is our President, and they should respect the vote of the American people and work with him in a respectful manner.
In their war of words, Corker, the chair of the Senate Foreign Relations Committee, tore into Trump in a New York Times interview, accusing the president of acting “like he’s doing The Apprentice or something” and putting the country “on the path to World War III” with his reality-show mentality and Twitter antics.
They should be working on Tax Reform right now, but it seems every time President Trump comes close to obtaining a goal, he is cut down to the point communications stop. We are seeing this time and time again.
While President Trump’s zesty leadership has stirred the pot many times, it seems Corker has to disrespectfully label his behavior a threat to national security. “I know for a fact that every single day at the White House, it’s a situation of trying to contain him,” Corker told the Times.
Earlier in the day, Corker referred to the Trump White House as an “adult day care center” where “somebody obviously missed their shift” after the president hurled a string of insults at him on Twitter. Corker had incurred Trump’s wrath by saying last week that Chief of Staff John Kelly, Defense Secretary James Mattis, and Secretary of State Rex Tillerson were helping “separate our country from chaos” by reining in their boss.
This is an opinion of Senator Corker’s and this is not the time or place for it. Right now is the time for the American people to finally see tax reform. As an American citizen I resent all this bickering. Further I resent the continuing “reining in” of President Trump by the Deep State!
What are the real ramifications of this for our economy? While Wall Street appears to have ignored the latest political spat, it may have dire consequences for the market, which in recent weeks has repriced a more than 60% probability (according to Goldman) that Trump’s tax reform will pass. The American people have been counting on this, also.
According to Cowen analyst Chris Krueger, in a note released this morning, Krueger writes that “tax euphoria may break this week, with the Senate budget back to zero-margin on vote as President Trump, Sen. Bob Corker feud.” And without a budget, “tax is dead. Full stop,” Krueger writes.
Cowen now sees the margin for passing a budget in the Senate as more challenging than in the House, plus “radically different” documents will have to be merged and passed again. But the worst of it is, the GOP can only withstand one more defection. If Corker walks away, it is a great loss for the tax reform so looked forward to by the American people. Why am I not surprised?
Will he walk away or what next? www.breitbart.com/big-government/2017/10/04/bob-corker-threatens-to-derail-tax-reform/
Corker said at the hearing, “This is some of the most meaningless work that we do here.” The Tennesseean argued that the 2018 budget amounts to nothing more than a vehicle for Republicans to pass a tax reform package.
Republicans hope to use budgetary reconciliation to attach a tax reform proposal to the 2018 budget that will allow the Senate to pass the tax reform legislation using a simple majority. GOP lawmakers tried to repeal and replace Obamacare using the same strategy.
Corker said that he agreed to allow the $1.5 trillion deficit provision for tax reform into the 2018 budget resolution to move the process forward. He explained that he would accept a tax reform proposal that would not add to the budget if increased economic growth were to fill in the missing gap in government revenue.
The current tax plan proposal introduced by Republicans would include $4 trillion in tax cuts. Republicans hope to cut roughly $2.5 trillion in missing revenue by closing loopholes and eliminating deductions to hit the maximum $1.5 trillion deficit allowed for Congress’s budget rules.
President Donald Trump said that the tax reform plan “will be rocket fuel for our economy.”
by Ruby Henley