The Trump Tax Cut Bill Markup Is A Disaster For Republicans

The Daily is journalism for the people. Please consider supporting our work by becoming a subscriber.Today’s video and live chat, which you can watch above, focused on the House Republican markup of the tax cut bill. The markups are revealing just how bad this bill will be for the American people. The Chief of Staff of the Joint Committee on Taxation, Tom Barthold said that the committee’s analysis found that 2 million kids would be thrown off the child tax credit if the legislation passes.An exchange between Rep. Tom Souzzi (D-NY) and Barthold also revealed that none of Trump’s campaign promises are in the bill:Souzzi:  Okay on tips, the President said your tips will be a hundred percent yours. Does this tax bill continue the payroll tax on people's tips? Barthold: Yes. It, yes it does. Souzzi: On overtime, the president said your overtime will be tax-free. Does this bill continue the payroll tax on overtime?Barthold: It does not exempt overtime from the payroll tax.Souzzi: The president has said he is gonna remove taxes on Social Security. Does this bill remove taxes on Social Security benefits? The legislation provides an increased exemption amount for, but does it remove taxes on Social Security benefits is promised by the president?Barthold: It does not change Social Security taxes.The Daily is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber.The markup hearings are revealing that the legislation is a complete disaster for Republicans because they reveal what is in the legislation. Trump’s bogus promises that he made during the campaign about taxes on overtime, tips, and Social Security were bogus. Trump is going to continue to tax low-wage workers, seniors, and those who put in long hours. The tax cut bill is a scam that is designed to transfer assets from those who have the least to those who have the most. That’s the point of the legislation. The spending cuts will harm the people who need programs the most to reward those who need a tax cut the least. It is not complicated math. Democrats are using the platform of the committee markups to show the American people exactly what this legislation will do.Republicans are far from the finish line on this bill. They are putting the pieces together right now, and even if it gets through the House, the legislation will be dramatically changed in the Senate.What Republicans are revealing about their priorities and who they really are for is a disaster for them, and a boon for Democratic election hopes in 2026.What do you think about House tax cut legislation? Share your thoughts in the comments below. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.thedailypoliticususa.com/subscribe