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Republican Rewrite of US Taxcode
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<blockquote data-quote="tonyexpress" data-source="post: 3255395" data-attributes="member: 1940"><p><a href="https://www.investopedia.com/news/trumps-tax-reform-what-can-be-done/" target="_blank">Trump's Tax Reform Plan</a></p><p></p><p>The changes would be temporary, going into effect in 2018 and expiring after 2025, as would be the case with most personal tax breaks included in the bill. The expiration date allows the Senate to comply with "reconciliation" rules that block a Democratic filibuster – which Republicans do not have the votes to defeat – only if the bill does not raise the deficit in any year outside of a 10-year window and if it stays within its $1.5 trillion budget constraint during the 10-year window. Republican congressional leaders have signalled that indidvidual tax cuts would be extended at a later date.</p></blockquote><p></p>
[QUOTE="tonyexpress, post: 3255395, member: 1940"] [URL='https://www.investopedia.com/news/trumps-tax-reform-what-can-be-done/']Trump's Tax Reform Plan[/URL] The changes would be temporary, going into effect in 2018 and expiring after 2025, as would be the case with most personal tax breaks included in the bill. The expiration date allows the Senate to comply with "reconciliation" rules that block a Democratic filibuster – which Republicans do not have the votes to defeat – only if the bill does not raise the deficit in any year outside of a 10-year window and if it stays within its $1.5 trillion budget constraint during the 10-year window. Republican congressional leaders have signalled that indidvidual tax cuts would be extended at a later date. [/QUOTE]
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