EDITORIAL: GOP Taxes Credibility - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
December 17, 2017 Newswires
Share
Share
Post
Email

EDITORIAL: GOP Taxes Credibility

Columbian (Vancouver, WA)

Dec. 17--The process that has brought congressional Republicans to the brink of passing tax "reform" has been nothing short of shameful.

With Congress apparently having reconciled bills that separately passed the House and the Senate, the plan is to pass the legislation this week and send it to President Donald Trump. If that plays out as expected -- and nothing is certain in Washington, D.C. -- it will reflect gross legislative malpractice. In short, Congress might be about to sell the American people a bill of goods that has undergone little scrutiny.

To begin with, the Trump administration and supporters have frequently claimed that tax cuts for corporations and wealthy individuals will pay for themselves through increased economic activity. This is a fallacy of the highest order, one that has been a Republican trope since the Reagan years and bears no resemblance to reality. Estimates from the Tax Policy Center, the Tax Foundation, the Penn Wharton Budget Model, and the Joint Committee on Taxation all dispute the administration's conclusions about the benefits of a tax cut.

Rep. Jaime Herrera Beutler, R-Battle Ground, repeated the falsehood about tax cuts paying for themselves in explaining her vote in favor of the House version of the tax bill. If Herrera Beutler insists on voting in favor of the final version of the plan, we encourage her to at least come up with a more plausible explanation this time around.

In providing large tax cuts for corporations and wealthy individuals while providing mild relief for the middle class, the Republican tax plan is expected to increase the deficit by more than $1 trillion over the course of a decade. The invoice for the tax cuts will be passed along to future generations while moving the United States closer to a debt level that is unsustainable and will hamper the economy for generations.

This isn't a matter of deficit spending in response to a severe recession, which is what happened during the Obama presidency; it is a matter of ignoring a moral duty to begin paying down the debt when times are good (something that Obama should have started toward the end of his time in office).

While the tax plan itself is difficult to justify, the process that has created it is indefensible. For example, the Senate bill was passed at 2 a.m. Eastern time on a Saturday, with changes being hastily written in the margins. Rather than hold public hearings and debate the pros and cons of different provisions, congressional leaders are intent upon simply doing something instead of doing it well. This, to borrow a phrase, is no way to run a railroad.

Republicans will point to the passage of the Affordable Care Act in 2010 as an example of one party pushing through legislation -- a comparison that upon examination points out their incompetence. The Affordable Care Act underwent more than a year of debate plus public hearings with insurance companies, health care providers, and other stakeholders. While no Republicans ended up voting in favor of the legislation, in the end it included hundreds of amendments -- many championed by Republicans.

Such is not the case with the tax plan, which is the result of stealth backroom deals, minimal oversight, and old-fashioned horse trading out of public view.

Along the way, Republicans in Congress have diminished the public's confidence in the party's ability to govern. At a time when our democracy is being increasingly destabilized, pushing through an unpopular plan born of legislative negligence is nothing short of shameful.

___

(c)2017 The Columbian (Vancouver, Wash.)

Visit The Columbian (Vancouver, Wash.) at www.columbian.com

Distributed by Tribune Content Agency, LLC.

Older

CDC gets list of banned words, including ‘fetus’ and ‘diversity’

Newer

For GOP, tax bill’s most visible win may be averting failure

Advisor News

  • Benefit Costs Squeeze Schools, Driving Cuts, Tax Hikes And Difficult Tradeoffs
  • Why client insurance needs could change even if their life doesn’t
  • Most Gen Z investors think less than a year ahead when making financial decisions
  • IRI pitches retirement agenda to Jeffries as democrats shape affordability platform
  • Help child-free clients plan for their later years
More Advisor News

Annuity News

  • Guidance, bulletin or reg? NAIC debates form of annuity illustration update
  • Nationwide adds mutual fund-linked strategy to New Heights Select FIA
  • NUNN INTRODUCES BILL TO CUT RED TAPE, GIVE IOWANS CLEARER INSURANCE INFORMATION
  • NAIC working group pressed to accelerate annuity illustration overhaul
  • State Auditor James Brown Kicks Off Life Insurance Awareness Month With Policy Locator Tool
More Annuity News

Health/Employee Benefits News

  • How Lahn, Sand see future for Medicaid
  • Regulators claim limited power to control health insurance rate increases
  • Burcum: The fight for fertility coverage needs a governor in its corner
  • A cancer survivor hoped to work — then she lost her Medicaid disability coverage
  • How Iowa’s candidates for governor see the future of Medicaid
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • AM Best Revises Outlooks to Negative for Kemper Corporation, Its Affiliates and Subsidiaries
  • WARREN PROBES RISE OF PRIVATE INVESTMENT FIRMS IN INSURANCE SECTOR FOLLOWING MARK WALTER SCANDAL
  • AM Best Affirms Credit Ratings of Erie Insurance Group’s Members and Erie Family Life Insurance Company
  • MIB reports double-digit life insurance app activity in record August
  • 42% of consumers are confused and unconvinced by life insurance
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
  • MassMutual Ascend Surpasses $2 Billion in Lifetime Advisory Annuity Sales, Reflecting Continued Momentum in RIA Channel
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.