Thursday, August 01, 2024

Senate Republicans Block Bill to Cut Taxes for Families

A bipartisan bill expanding the child tax credit, as well as business deductions sought by corporate America, failed to advance in the Senate on Thursday after overwhelming opposition from Republicans who feared giving Democrats a major win ahead of the November elections.

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"If these folks are so pro-family, why aren't they supporting paid family and medical leave? If they believe in families, why are they not supporting the child tax credit?" Sen. Tina Smith (D-Minn.) told HuffPost when asked about GOP opposition to the bill.

The legislation would have given low-income parents larger tax refunds, especially in households with multiple children. Tax analysts said a tax filer who has two children and earned $9,000 last year would receive a child tax credit refund worth $975 under current law, but $1,950 under the proposal.

The bill's authors, Sen. Ron Wyden (D-Ore.) and Rep. Jason Smith (R-Mo.), said it would "help 16 million kids from low-income families and lift 500,000 out of poverty," in part by allowing parents to claim the full tax credit for each of their kids, something they can't do now.

The bill included several sweeteners for Republicans, including business tax breaks for research-and-development expenses long sought by corporate donors. It would also not cost the government money, according to budget scorekeepers, because it would crack down on abuse of the employee retention tax credit, or ERTC, a program from the early days of the COVID-19 pandemic that encouraged business owners to keep workers on company payrolls.

Of course, by tonight at the latest, Vance will again smear all Democrats as "anti-family" and act as if this vote nor bill ever happened.

THIS, my friends, would be gaslighting. Some posters seem to be struggling with understanding that believing the lies spoon fed them by the right wing media for years and THEN being exposed to the truth isn't any type of gaslighting. It's call ENlightening - being exposed to the contextual truth as it's always existed - something extremely rare whenever Trump is involved one way or another.

#1 | Posted by tonyroma at 2024-08-01 03:48 PM

Two Parties is not enough. Never was.

One party rule is coming. When it does everyone will be surprised by the speed with which their freedoms evaporate.

All except the Oligarchs, they will see greater opportunities to profit and exploit. Fewer calls to preserve the environment and protect consumers from harm.

Corporatism is our Future.

The Government will be an appendage of Private Equity, Openly and without Appeal.

And the SCOTUS will deem it Constitutional. Based on "Originalism" or some such Hokum.

Good Times.

#2 | Posted by Effeteposer at 2024-08-01 04:14 PM

Republicans want more babies...in poverty.

#3 | Posted by rstybeach11 at 2024-08-01 04:18 PM

In case anyone was wondering:

As for electoral considerations, Republican Sen. JD Vance of Ohio has spoken quite a bit lately about families and his belief that policymakers should do more to reward parents. But when it came time to vote on this extension of the child tax credit, the GOP vice presidential nominee didn't show up for the vote and did nothing to encourage his Senate colleagues to support the bipartisan compromise.

www.msnbc.com

Just a little factoid to remember the next time Vance opens his trap to criticize Democrats for not caring about America's families and children.

#4 | Posted by tonyroma at 2024-08-01 04:59 PM

@#4 ... As for electoral considerations, Republican Sen. JD Vance of Ohio has spoken quite a bit lately about families and his belief that policymakers should do more to reward parents. But when it came time to vote on this extension of the child tax credit, the GOP vice presidential nominee didn't show up for the vote and did nothing to encourage his Senate colleagues to support the bipartisan compromise. ...

Wait, what????

Sen Vance did not even show up to vote for a bill that enforces his expressed views that parents with children should pay less in taxes?

JD Vance Is Right: Of Course Bigger Families Should, and Do, Pay Less in Taxes
www.aei.org

So, even the American Enterprise Institute says Sen Vance was clueless in his comment.


#5 | Posted by LampLighter at 2024-08-01 09:15 PM

More "compassionate conservatism" at work I see...

#6 | Posted by earthmuse at 2024-08-01 09:32 PM

"One party rule is coming."

Not likely. Another "party" is always waiting in the wings to rebuild and help fill the power vacuum. It's not a perfect system.. yet. Just a little more perfect than what we had.

It's right in the Constitution: "We the people, in order to form a more perfect union ...".

Read an American History book for Gawds sake and you won't embarrass yourself so much.

#7 | Posted by donnerboy at 2024-08-02 11:12 PM

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