Senate Finance Committee Chairman Orrin G. Hatch (R-Utah) and Sen. Sherrod Brown (D-Ohio) got a tense exchange during the Senate Finance Committee's markup of the GOP tax bill on Nov. 16. The additional corporate tax cuts only kick in if the government is bringing in more money than expected. The Senate tax bill is expected to add $1.4 trillion to America’s debt over the next decade, according to the official experts at the Joint Committee on Taxation. The Senate bill includes many protections to try to stop big companies from paying lower taxes by shifting their profits and intellectual property (IP) overseas. If tax receipts are strong by 2026 because the tax cuts are working, it would be wise to lower the burden on businesses.

Source: Washington Post November 22, 2017 16:09 UTC