BREAKING: Tax Reform Delayed; GOP May Be Forced To Rewrite Bill

Analysis shows the bill would add $1 trillion to the deficit.

Tax reform was supposed to represent an elusive triumph for President Trump and congressional Republicans. This afternoon it seemed as though all the pieces were falling into place as Republican mavericks lined up to support the bill. Now, the legislation faces an uncertain future after an analysis showed that the bill would lead to $1 trillion in increased deficits.

The Wall Street Journal reports that an analysis by the Joint Committee on Taxation indicated that a trigger provision that would increase taxes if revenue targets were not met would replace only about a third of the estimated cost of the bill. Senators Corker (R-Tenn.), Flake (R-Ariz.) and Lankford (R-Okla.) had insisted on the provision.

Republicans may be forced to rewrite significant portions of the bill to proceed with their reform plans. Under Senate rules, the bill must be deficit neutral to avoid a filibuster by Democrats.

Even as a Liberal Democrat, it's not like I enjoy paying taxes. However, eventually stuff costs what it costs. There's more old people now due to advances in medical knowledge. Those old people will live longer and be sicker for longer. Oh, and we're kind of at war forever with a tactic/emotion AKA Terror. 90% of the money Washington spends goes to the Big Four: Defense, Medicare, Social Security and the Interest on the Budget Deficit. The other 10% is Everything Else. Ronald Reagan was right to cut taxes as he did, but there's such a thing as diminishing returns. Tax cuts are not the absolute economic panacea some people make them out to be.

A trigger provision? Isn't that just cute? Those two just lying about that trigger(yes, it is a lie) that will automatically become a tax hike because that is all it is intended to be, like that provision, a few years ago that "Triggered" automatic and harsh spending cuts in strategically placed parts of the government, for purely Democrat reasons. Corker and Flake only want to cause trouble until they are shoved out the door. They should be made to sit in the corner with Dunce's caps on. I would prefer they just go on and leave, Corker, especially.

Let's be honest here. There really aren't any fiscal conservatives in Washington any more. Dad says Mom, the Democrat, wants to blow the family nest egg on cosmetic surgery, while Mom says Dad, the Republican wants to blow it on muscle cars. Neither of them gives much of a crap about little Jonny in the corner and they way they're about to blow his college fund.

No matter how they rewrite the tax bill, it is still an awful bill. It should NOT pass. I want Trump's agenda stopped. Trump is not good for the Republican party. And no, I am not a Democrat. I have never voted for a Democrat in my life. Last year I chose not to vote for Trump OR Hillary but voted straight Republican for all the other candidates.

Whose analysis said it would add $1 trillion? If you're talking about CBO, that's nonsense. They assume annual GDP growth of less than 2%. If that's the case, we have far bigger problems than $1 trillion in increased deficits over ten years. And the trigger, if there is one, should trigger spending cuts, not higher taxes.