Looks like it’s over. The tax cut bill is going to pass the Senate, as GOP Sens. Marco Rubio and Bob Corker reversed course and said they would pass it.
Corker said something was better than nothing:
“This bill is far from perfect, and left to my own accord, we would have reached bipartisan consensus on legislation that avoided any chance of adding to the deficit and far less would have been done on the individual side with items that do not generate economic growth,” Corker said in a statement. “But after great thought and consideration, I believe that this once-in-a-generation opportunity to make U.S. businesses domestically more productive and internationally more competitive is one we should not miss.”
Rubio, who held out for child tax credits for people who don’t even pay any taxes, finally got enough of what he was demanding so that he could campaign in 2020 or 2024 for president on his achievement.
Democrats will now begin their 2018 campaign fusillade against the bill as a corporate giveaway. It’s not, as I mentioned, what one would have expected would be the only first-year major legislative achievement of a president who ran against the status quo. But if the economy holds up, the tax bill will become more popular.
Once we find out what’s in it. Republicans having rushed the legislation through, we’ll have to pass the bill to know what it contains.