The debate continues on the Senate tax plan
The the idea of a fiscal "trigger" that would kick in if the deficits exceed expectations, seems to be off the table now as it is not compliant with Senate rules.
As a result,the latest idea is to stair step a rise in the corporate tax rate over time to hedge against increased deficits.
HMMMM.... It is unsure what might happen if the deficits don't materialize. That is, will the stair step rise in corporate rates be rescinded.
HMMMM 2.....It seems to me, that the GOP is kinda expecting that the plan won't lead to a boom in revenues from growth (as touted by the President and his staff).
More on the proposal:
- Senate Republicans considering making corporate tax cuts temporary, to rise in year six or seven
Let's be honest, they don't know what may happen in year 1 let alone year 6 or 7 which makes all this sort of funny. However, you can be sure if it all gets figured out, there will be lots of% back slapping and hip-hip-horray-ing..