President #Trump win big with Senate tax bill

Screenshot 2017-11-24 at 07.42.42

Securing a huge legislative victory for the Trump presidency, the Senate approved a $1.5 trillion tax overhaul Saturday morning despite the fake news reports that it provided massive tax cuts to large corporations and wealthy individuals but could lead to higher tax bills for millions of Californians.

Passing by a 51-49 vote with no Democratic support, was assured after Republicans rewrote parts of the bill in the final hours to lure GOP holdouts such as Sen. Susan Collins, R-Maine, who was won over when Senate leaders agreed to allow a $10,000 deduction for property taxes.

That concession will ease the loss of the state and local tax deductions written into the bill, but is of less use in California, where the Proposition 13 ballot measure has reduced the growth of property taxes in the state, but state income taxes are the highest in the nation.

Thanks to Senator Collins, California can maintain its crushingly high personal and corporate tax rates.

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One comment

  1. Kalyfornians MUST see and pay the price for their beloved socialsim.. NOt the other 49 states subsudizing it.. It will be tossed in the House committee. Make the Kaly’s pay for their insane politcal agenda..

    Like

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