Trump Talks Taxes: Will Tax Bill Pass This Week?

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Wednesday, the Senate got a bit closer toward passage of tax legislation. They are setting up a likely decisive vote later this week even though it was unclear if the bill had enough support to pass currently.

President Trump gave a speech addressing the progress today in St. Charles, MO:

Republicans spent the day attempting to finalize changes that would increase the likelihood of its passage. The bill, aims to cut taxes on corporations, other businesses and most Americans, but many lawmakers are worried about how much it may balloon the our deficits and national debt.

Stocks have begun to rally on optimism it could pass. The stock market has been generally strong under President Trump and the potential of a 20% corporate tax would all but ensure the continued prosperity on Wall Street.

Senators have voted 52-48 to begin formal debate. This should grease the skids towards a full vote on the bill, potentially as soon as Thursday. Republicans are eager to pass the legislation as they have been mostly a disaster in this first year of the Trump Administration.

After their pathetic failings on Healthcare Reform, they must deliver SOMETHING in advance of the 2018 Midterm Elections next November.

Should Trump deal with the Democrats if Congressional Republicans continue to fail on passing significant legislation? Share your opinion in the comments section below.

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