Republicans insist that the Inflation Reduction Act would raise taxes “on almost every American.' Here's why that’s not even close to being true. - MaddowBlog
, the JCT didn’t find that the bill would raise middle-class taxes, but it did offer Republicans a point that was easily exploited.
The complication that enters the picture is that the JCT, like other economic modelers, tries to project how the burden of a tax increase is borne. The agency used to assume that corporate tax increases are borne entirely by shareholders in the firms that pay the tax. In 2013, the agency changed its modeling assumptions and now assumes that corporate tax increases are not borne entirely by shareholders.
In other words, because the Democrats’ reconciliation package would require many large corporations to pay more, the Joint Committee on Taxation — looking only at part of the bill — made an educated guess about those corporations possibly, at some point in the future, lowering incomes. This, according to Republicans and their allies, constitutes a “tax increase” — despite the meaning of the words “tax” and “increase.”on the chamber floor yesterday, “[O]ver the past few days, we’ve heard Republicans go back to their timeworn attacks that they use against virtually any Democratic policy.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Senate Passes Burn-Pit Funding for Veterans After Surprise SetbackThe Senate has passed the largest expansion of veteran healthcare benefits in decades, just a week after Republicans blocked the bill, sparking blowback
Baca lebih lajut »
Manchin Touts Democrats’ Climate and Tax Bill, Which Draws GOP CriticismDemocrats defended their climate, prescription drug and tax plan while Republicans said the bill would hurt the economy and do nothing to fight inflation
Baca lebih lajut »
Most Americans will feel tax pain from Dem inflation bill despite Biden's past promises: analysisThe poorest Americans will pay more in taxes as a result of Democrats' inflation bill, a nonpartisan analysis concluded, despite President Biden's past pledges.
Baca lebih lajut »
Jon Stewart Pressure Flips GOP Senators, PACT Act for Veterans PassesJon Stewart's public pressure flips GOP vote on veteran's healthcare bill.
Baca lebih lajut »
How the Senate Climate Bill Will Boost Clean EnergyThe surprise climate bill's electricity provisions would help the country surge toward its emissions reduction goals
Baca lebih lajut »