The Republican Tax Bill Might Need an Escape Hatch to Pass
Republican Senate leaders have sold their proposed tax cuts as a surefire jolt to the economy—one that will eventually refill the nation’s coffers with revenue generated through more jobs and higher wages. But what if it doesn’t?
One of the final pockets of resistance to the GOP plan is coming from senators who have seen firsthand the darker side of those lofty promises. Senators James Lankford of Oklahoma and Jerry Moran of Kansas have each raised concerns in recent days about the budgetary impact of the chamber’s tax bill, citing the experiences of their states as cautionary tales. Both Kansas and Oklahoma have had to close large budget deficits years after slashing taxes, forcing state governments to cut back on programs and services and prompting voter backlash at the polls.
Opposition from Lankford and Moran would likely derail50 out of their 52 members, and several others have either raised different objections or have yet to commit to backing the bill. Senators Ron Johnson of Wisconsin and Steve Daines of Montana, for example, are opposing the current version on the grounds that its benefits are too skewed toward corporations rather than small businesses. The Senate Budget Committee is expected to vote on the measure on Tuesday afternoon, and a vote to open debate on the floor could follow soon after.
