Senate GOP rejects House conservative pitch on corporate tax rates

[BumRushDaShow]

Source: The Hill

01/17/25 6:00 AM ET


House conservative proposals to raise corporate taxes to offset the cost of President-elect Trump’s tax package are going over like lead balloons in the Senate, where Republicans are warning their House counterparts to back off. The Senate GOP argues that hiking corporate taxes could dampen economic activity, lead to foreign takeovers of U.S. corporations and result in job loss.

“Absolutely not,” Sen. Markwayne Mullin (R-Okla.) said of proposals to raise the corporate tax rate. “We were trying to be competitive on the world stage when we dropped it to 21 percent,” he said. “To raise that is not the way to get an economy going.”

Some conservatives, notably Rep. Chip Roy (Texas), have floated the idea of raising the corporate tax rate by a few percentage points to ensure the budget reconciliation package Congress plans to pass later this year doesn’t add to the deficit.

More recently, the House Freedom Caucus has floated a proposal to offset the cost of raising the cap on state and local tax (SALT) deductions for individuals and families by restricting state and local tax deductions for corporations. Mullin and other GOP senators are also pouring cold water on that idea.

Read more: https://thehill.com/homenews/senate/5090575-senate-gop-warn-higher-corporate-taxes/

[CousinIT]

1. The billionaires and their corporations will scrape the cost of their tax cuts off OUR backsides

....NOT theirs. They are fat and happy and will remain that way while the middle class and poor suffer, pay more and get less to fund their limitless GREED.

Fucking billionaire tax cuts DO NOT stimulate an economy. Corporate tax cuts don't either. They are economy killers. Like broad tariffs are.

[neohippie]

2. Get the economy going?

The US likely has the strongest economy in the world, if we keep giving tax cuts to the wealthiest and raise the debt ceiling by 4 Trillion dollars, on top of enacting programs like mass deportations with no cap on spending for that and which will take away a large base of people willing to work low wage jobs, who also work in farming, restaurants, factories,, food processing plants, construction and so on, and then add tariffs into imported products that will raise costs not only to our manufacturing base but to households; that may not take long to change

The GOP doesn't seem to have a very strong grasp of economics

[GB_RN]

3. I Want These Assholes...

To answer these questions: If high taxes kill businesses, explain to me like I’m 4, how the economy was roaring in the 50s and 60s with top marginal rates in the 80-90%? Why wasn’t the economy in the tank? Why did the middle class only collapse after Raygun’s piss-down-on-ya economics and its associated tax cuts?

What? Can’t explain it? The sit down and STFU. Morons.