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Overnight News Digest: Tax Break for the Wealthy and Corporations Edition

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Welcome to the Overnight News Digest with a crew consisting of founder Magnifico, current leader Neon Vincent, regular editors side pocket, maggiejean, Chitown Kev, Doctor RJ, Magnifico, annetteboardman and Man Oh Man. Alumni editors include (but not limited to) wader, palantir, Patriot Daily News Clearinghouse (RIP), ek hornbeck, ScottyUrb, Interceptor7, BentLiberal, Oke (RIP) and jlms qkw.

OND is a regular community feature on Daily Kos, consisting of news stories from around the world, sometimes coupled with a daily theme, original research or commentary. Editors of OND impart their own presentation styles and content choices, typically publishing each day near 12:00 AM Eastern Time.  

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Republicans Sought to Undercut an Unfavorable Analysis of the Tax Plan

New York Times

A Republican requirement that Congress consider the full cost of major legislation threatened to derail the party’s $1.5 trillion tax rewrite last week. So lawmakers went on the offensive to discredit the agency performing the analysis.

In 2015, Republicans changed the budget rules in Congress so that official scorekeepers would be required to analyze the potential economic impact of major legislation when determining how it would affect federal revenues.

But on Thursday, hours before they were set to vote on the largest tax cut Congress has considered in years, Senate Republicans opened an assault on that scorekeeper, the Joint Committee on Taxation, and its analysis, which showed the Senate plan would not, as lawmakers contended, pay for itself but would add $1 trillion to the federal budget deficit.


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