The Democrats have placed a demand for bipartisanship to be initiated on tax reforms. The health care issue that was raised last week in the Senate saw the Republicans suffers a defeat. They are still looking to push their objectives for one of the major reforms they want to see brought to life in the tax legislature area. The Democrats who are emboldened stated that their demands for restructuring the tax code of the nation need to be done the bipartisan way.
The Majority leader of the party stated that the Republicans and Donald Trump would find it hard to go alone and face a rough time if the demands of the Democrats is not considered.
A letter has been sent by most of the Senate Democrats to the Majority Leader who is laying out the conditions of the party for tax reforms. The several points that are included, insist that the Republicans drop off all plans if they had reconciliation in mind which would eliminate the need to consider the votes of the Democrats.
As Senator Ron Wyden stated, the focus needs to be on the work that has to be done here and not indulge in the stance of going my way or take the highway in doing politics. His being a ranking member of the Senate Finance Committee as well, it surely reflects that a more mature stance needs to be taken by the politicians in the upcoming tax reforms discussions.
The demands have a number of points such as no tax cuts should be included in the one percent of wage earners in the nation who belong to the top category. Also, any reform that is brought in should not lead to rising of federal debt. McConnell as the leader of the Republicans responded that the Republicans will want to pass their votes and go alone on these issues if required. He stated that it was clear that the Democrats are not interested to address the principal matters which would be instrumental in the country’s growth. In such a case reconciliation would be the only way out.
The goals that the Republicans have for tax reforms in the individual category include lowering of rates, making simpler tax codes and so forth. The corporate taxes need to be reduced as per their stance and they want incentives to be provided for investment and job creation. They are pushing for reconciliation which would need a simple majority, but as per the Democrats, it is a wrong approach to take, trying to ram in tax cuts through the process of reconciliation which failed in the case of health care. The Affordable Care Act, which also came under similar circumstances, had to be repealed later on.