Rubio demands bigger child tax credit in bill

Brunilde Fioravanti
Dicembre 16, 2017

Rubio, along with Sen.

Late Friday afternoon, Republican leaders presented their final resolution of the House and Senate versions of the tax reform bill.

The agreement combines key elements of separate tax bills recently passed by the House and Senate, striking compromises on some of them.

"I believe that we're in a good spot and should be able to earn his support" she said of Rubio. How much companies will pay in tax starting in 2018 will depend on fine points, technicalities and exemptions, tax experts say.

"The US Congress is trying desperately to pass a tax bill that, if adopted, would represent the single most dramatic increase in inequality that could be imagined", he said.

Sen. Rob Portman, R-Ohio, said Senate negotiators got the best deal they could on the overall child tax credit.

The Senate vote outlook has been further muddled by Senator John McCain's admission to the hospital for treatment for side effects of cancer therapy.

Senate Republicans could still pass the package without Rubio's vote, but they would be cutting it extremely close.

Pence has delayed a planned trip to the Middle East in case his vote is needed on the final tax bill. Fellow Senator Bob Corker, who had opposed the original bill, also said he would back the draft bill despite reservations.

OH congressman Jim Jordan is a member of the caucus.

"He's really been a great guy, very supportive", Trump said while taking questions after a speech.

"That's one of the things we're looking at", Senate Finance Committee Chairman Orrin G. Hatch (R-Utah) said Thursday when asked about shortening the duration. But I think we can resolve that problem. Those two lawmakers sought a boost in the child tax credit, so GOP negotiators agreed to plump it up for low-income families. Corporate tax lobbyists have been seeking such a dramatic cut for many years.

Proposed: Individuals can deduct no more than $10,000 worth of the deductions, which could include a combination of property taxes and either sales or income taxes.

- Businesses: Bill allows companies to immediately write off the full cost of equipment they buy.

The Senate approved a wide-ranging version of the tax bill on December 2 by a vote of 51-49, with Corker the only Republican to vote no.

The tax legislation would cut the top tax rate for the wealthiest Americans from 39.6 percent to 37 percent.

- Individual insurance mandate: Repeals the requirement in Democrat Barack Obama's health care law that people pay a tax penalty if they don't purchase health insurance.

Trump and Rubio have a history. GOP leaders are hopeful they will be available next week. Rubio is seen as considering a future presidential run. They would receive the money in the form of a tax refund, which is why it's called a "refundable" tax credit. Noem said Friday the amount has been increased from $1,100 to $1,400. But Rubio and Lee want to change the credit's rules to extend additional benefits to families who pay payroll taxes but do not make enough to owe any income tax.

Republican Sen. Marco Rubio says he's a "no" vote on the sweeping tax package - unless the child tax credit is more generous to low-income families. Negotiators agreed to bump it up to 21 percent to help offset revenue losses from other tax breaks, the aides said. Tim Scott, R-S.C., one of the conferees, intervened in bid to keep Rubio negotiating - an effort Scott continues to pursue.

Party leaders still hope to roll out their credit by Friday morning, in part to remain on pace to meet Trump's request that Congress send him a tax-cut bill by Christmas. That timeline gained new urgency Tuesday when Democrat Doug Jones defeated Republican Roy Moore in an Alabama special election for a U.S. Senate seat.

The Senate approved a wide-ranging tax bill of its own on December 2 by a vote of 51-49.

In threatening to vote down the tax plan, Rubio is reopening a fight he and Lee lost on the Senate floor earlier this month. Both the House bill and the Senate bill would have lowered the corporate rate from 35 percent to 20 percent.

Republicans argue the break for pass-through income will encourage more people to start their own business or grow an existing small business.

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