(National Sentinel)Â Tax Reform: After failing all year to move President Donald J. Trump’s legislative priorities such as repealing and replacing Obamacare and funding for his proposed border wall, Senate Republicans finally delivered a victory for the White House and the GOP in general by pushing through a $1.5 trillion tax cut.
After 11th-hour dealing with some Republican holdouts, the Senate approved the measure early Saturday, putting tax reform on track for putting the bill on the president’s desk by Christmas, after reconciliation with the House-passed version.
“Big bills are rarely popular. You remember how unpopular â€˜Obamacareâ€™ was when it passed?â€ Senate Majority Leader Mitch McConnell said, in response to a reporter’s claim that the tax measure was not popular with Americans.
He added the legislationÂ would prove to be â€œjust what the country needs to get growing again.â€
Trump thanked McConnell and Senate Finance Committee Chairman Sen. Orrin Hatch, R-Utah, for pulling the legislation together.Â â€œLook forward to signing a final bill before Christmas!â€ he tweeted.
As for the claim that tax reform legislation isn’t popular, the historical record suggests otherwise.
According to Gallup, which has tracked the issue since February 1956, most Americans in a majority of years since have said they believe they pay too much in federal income taxes.
The last recorded survey — April of this year — found that 51 percent of Americans felt like they paid too much federal income tax, compared with 42 percent who said their income tax burden was “about right.”
The 51-percent figure is down from 2016, when 56 percent of Americans said they paid too much.
Also, the bill allows drilling for oilÂ in the Arctic National Wildlife Refuge, which is believed to hold vast reserves but which has blocked for decades by Democratic congresses and administrations.
As to the growth aspect, an analysis of both the House and Senate versions byÂ Rachel Greszler, a senior policy analyst in economics and entitlements at The Heritage Foundation’s Center for Data Analysis, found each of them significantly lower the top tax rate for businesses.
“This will help make America more competitive with the rest of the world, and will result in more and better jobs as well as higher incomes for all Americans,” she wrote.
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