The House of Representatives passed the bill 218-214, with every “yes” vote coming from a Republican. Only two Republicans, Representatives Thomas Massie and Brian Fitzpatrick, were brave enough to join Democrats and vote against the legislation.
And it will staggeringly transfer wealth from less-wealthy to ultra-wealthy Americans. According to the Washington Center for Equitable Growth, it is “the most regressive tax and budget law in at least the past 40 years.” Trump and other Republicans are sure to try to distract from this by pointing to the bill’s sops to those expecting populist reforms—such as its ‘no tax on tips’ provision—which themselves are “designed in ways that limit their benefits for less affluent taxpayers.”
All this while adding an estimated $3.3 trillion to the nation’s debt.
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