(THREAD) Epic screw-up in the tax bill the Senate just passed. They lowered the corporate rate to 20%, but accidentally put in an alternative minimum tax (AMT) of 20%. That's right. The same rate. (Maybe rushing it through wasn't the best idea). Here are some implications:
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Meanwhile, government funding is almost out. Because some Republicans won't vote for a spending bill without large cuts first, avoiding a shutdown requires Democratic votes. That gives Democrats leverage. And a shutdown means no votes on normal business, including tax bills. 9/x
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In trying to rush their overhaul of the tax system, Senate Republicans accidentally passed something that angers, rather than pleases many of their donors. They almost certainly won't be able to pass something this year. If you want to fight about it, you've still got time. (END)
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End of conversation
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Yes out to the streets and chanting “burning down the house”...
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