Monday, October 30, 2017

Looks like another loss is in the making for *The Most Notable Loser*

A lot of the support for the tax reform comes from people who think they're going to get something specific out of the tax plan. But the need to fit the plan in the $1.5 trillion box is going to require telling a lot of those people they aren't going to get what they expected.

[...]

There was a surprising announcement in late September: The National Association of Home Builders was "enthusiastically backing" the Republican tax reform plan.

[...]

In recent days, the home builders have switched to a less surprising position: They will vigorously oppose the proposal, on the grounds that it eliminates tax provisions that encourage people to buy homes. And we've learned why the home builders switched sides: They thought they'd be getting a new tax credit for homeownership in the bill, which would offset the loss of homeownership-related tax deductions, but Republican congressional leaders decided not to create such a credit after all.

We're going to see a lot more of this in the coming days and weeks.

House Republicans plan to release legislative text for the tax plan on Wednesday. That text will tell a lot of people they're going to get screwed under the plan, and it will become even more unpopular than it already is.

  Busienss Insider
More details if you read the whole article.

...but hey, do what you want...you will anyway.

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