In 1 Chart, the Differences Between the House and Senate Tax Reform Bills

The House has now passed its version of the Tax Cuts and Jobs Act. The Senate is still working on the final details of its reform package. The Senate plan improves on the House bill in many places and misses important opportunities elsewhere. Here are the differences you need to know about:

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Tip 'o the hat to Heritage for putting it together.




There is a lot of false information being bandied around, much based on "feeings" and "attitude" and other emotions. But since tax reform is on the table, we should all strive to have accurate information to argue about. So hopefully, this is a good start as to where the house vs senate arguments are going to be. It's going to be difficult because the democrats have indicated they will not participate. So it could get interesting.

chuckiechan said:

Tip 'o the hat to Heritage for putting it together.

There is a lot of false information being bandied around, much based on "feeings" and "attitude" and other emotions. But since tax reform is on the table, we should all strive to have accurate information to argue about. So hopefully, this is a good start as to where the house vs senate arguments are going to be. It's going to be difficult because the democrats have indicated they will not participate. So it could get interesting.

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I'm just wondering where they're going to find the $150 billion per year immediate spending cuts required by PAYGO, including $25 billion in cuts to Medicare.

As far as I'm concerned, until we know that, there is little need to even consider the differences in the tax bills or who it affects and doesn't. To me it's like a family with the house mortgaged to the hilt and most of the credit cards maxed out debating the merits of which new car to purchase. Maybe the family does need a new car, but the decision needs to account for where in the budget they'll find the money to make the monthly payments FIRST, and then you can have an informed debate about what kind of car, how old, etc.

chuckiechan said:

Tip 'o the hat to Heritage for putting it together.


There is a lot of false information being bandied around, much based on "feeings" and "attitude" and other emotions. But since tax reform is on the table, we should all strive to have accurate information to argue about. So hopefully, this is a good start as to where the house vs senate arguments are going to be. It's going to be difficult because the democrats have indicated they will not participate. So it could get interesting.

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I don't know what false information being bandied around you mean. Various informed non-partisan groups reviewed the plans and conclude that the rich do very well under these plans and the middle class gets the shaft. The above chart does nothing to change that view.

chuckiechan said:

Tip 'o the hat to Heritage for putting it together.

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There is a lot of false information being bandied around, much based on "feeings" and "attitude" and other emotions. But since tax reform is on the table, we should all strive to have accurate information to argue about. So hopefully, this is a good start as to where the house vs senate arguments are going to be. It's going to be difficult because the democrats have indicated they will not participate. So it could get interesting.

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Thanks for posting this. Being on a fixed income the Senate plan is better for me.

Old Sarge said:

Thanks for posting this. Being on a fixed income the Senate plan is better for me.

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The bill passed the House, and is out of the Senate finance committee to be presented to the full senate after Thanksgiving. That's where the horse trading takes place.

As it stands now, the R's have a two senator margin to pass it. So I suspect there will be some provisions held hostage. AFAIK, the democrats have declined to participate in the bill, and our spoilers are Jeff Flake and John McCain, both a major case of sour grapes on their last hurrah.

We shall see.

chuckiechan said:

The bill passed the House, and is out of the Senate finance committee to be presented to the full senate after Thanksgiving. That's where the horse trading takes place.

As it stands now, the R's have a two senator margin to pass it. So I suspect there will be some provisions held hostage. AFAIK, the democrats have declined to participate in the bill, and our spoilers are Jeff Flake and John McCain, both a major case of sour grapes on their last hurrah.

We shall see.

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AFAIK, Ron Johnson is the only Senator to come out and say he'll vote No. Other problems are Collins and Corker. So the GOP has at least 5 possible problems...

The main problem with congress is everything seems to boil down to partisan politics not what is best for the people or country. Just saying.

Old Sarge said:

The main problem with congress is everything seems to boil down to partisan politics not what is best for the people or country. Just saying.

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You are so right. We have become tribal like the middle east. Politics is a blood sport, and no one gives the other side a inch. So the only winners are the country's royalty.