Politics
09:15, 01-Dec-2017
US lawmakers weigh new options as Republican tax bill falters
["china"]
Share
Copied
A Republican tax bill in the US Senate stumbled on a procedural issue late on Thursday, forcing lawmakers to consider alternatives to an amendment sought by a leading fiscal hawk to address a projected large expansion of the federal deficit under the measure, senators said.
Senator Bob Corker had wanted to add a provision to the bill that would trigger automatic tax increases in years ahead if the tax cuts in the bill failed to boost the economy and generate revenues sufficient to offset the deficit expansion.
But the Senate parliamentarian barred Corker’s "trigger" proposal. “We just got the realization from the parliamentarian that that’s probably not going to work,” said Republican Senator David Perdue.
In response, Republicans were considering building future tax increases into their bill. "It’s not a threshold anymore. It’s just a tax increase. ... The only thing that’s come off the table is the trigger concept," Perdue said.
11159km
Source(s): Reuters