New York magazine explains why the Senate tax legislation is dead on arrival unless there’s a Senate rules change.
The bill would increase the deficit enormously, so much so that it requires a filibuster-proof vote under the so-called Byrd rule. Can’t happen. Democrats won’t join a bill that gives a windfall to the wealthy.
Will Republicans change the Byrd rule? Or will people like Sen. Tom Cotton insist on budget neutrality as they do when the discussion is money for hurricane victims in the Northeast, not tax cuts for billionaires?