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Senate Mistake Means "Not So Fast"
Tue Dec 5, 2017 8:46am (XFF:

The Senate tax bill accidentally set the Corporate AMT equal to the Corporate tax rate, 20%. This has the unintended consequence of making all the deductions worthless (because deductions can't take corporate tax rates below the AMT).

So, the House can't just rubber stamp the Senate version of the bill, because the Corporate Overlords have already spoken up that they do not want that to happen.

At this point, souls have been sold. I'm no longer optimistic that we can prevail upon the handful of Republicans who should be standing up to stop this. But I hope people try. I hope those who protested the attempt to kill the ACA get back out there and remind their representatives and senators that this is unacceptable. I hope enough people hear how bad this bill is and they manage to convince their representatives and senators that voting for it will be a death sentence to their political careers. But I am not optimistic.


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