Corker's 'trigger' plan risks chopping tax cut in half
Clifton
Dan Clifton  head of policy research at Strategas   said the Corker plan would basically be imposing an automatic tax increase if revenues do not reach a set goal by 2022 or 2023.  Clifton  also said  he  believes tax legislation has a better chance of getting approved  and  he  now sees odds of 75 percent in favor of a bill passing.
"Our read of the overall goal is that the 'trigger' will essentially cut the tax cut in half by imposing tax increases five years into the tax cut " wrote Clifton.
 Clifton  said  it  had seemed Corker was trying to reduce the package to $1 trillion from $1.5 trillion. " He  has essentially achieved this by setting up a five-year tax revenue test "  Clifton  wrote.
 Clifton  said  he  believes the "triggered" tax increase would be targeted at corporations  not individual taxpayers.
"This deal is likely sufficient to win the support of Corker  [Nebraska Sen. Ben] Sasse  and [Oklahoma Sen. James] Lankford. Flake may want the provision to be more aggressive. The key will be how conservative Senators respond  in particular  Senator Toomey and members of the Finance Committee. The House is not likely to be pleased with these details. Conservatives who have avoided criticizing the legislation throughout the entire process are absolutely livid this morning " wrote Clifton.
[TGT]said the Corker plan would basically be imposing an automatic tax increase if revenues do not reach a set goal by 2022 or 2023.  [TGT]also said  [TGT]  believes tax legislation has a better chance of getting approved  and  [TGT]  now sees odds of 75 percent in favor of a bill passing.
"Our read of the overall goal is that the 'trigger' will essentially cut the tax cut in half by imposing tax increases five years into the tax cut " wrote [TGT].
 [TGT]said  [TGT]  had seemed Corker was trying to reduce the package to $1 trillion from $1.5 trillion. " He  has essentially achieved this by setting up a five-year tax revenue test "  [TGT]wrote.
 [TGT]said  [TGT]  believes the "triggered" tax increase would be targeted at corporations  not individual taxpayers.
"This deal is likely sufficient to win the support of Corker  [Nebraska Sen. Ben] Sasse  and [Oklahoma Sen. James] Lankford. Flake may want the provision to be more aggressive. The key will be how conservative Senators respond  in particular  Senator Toomey and members of the Finance Committee. The House is not likely to be pleased with these details. Conservatives who have avoided criticizing the legislation throughout the entire process are absolutely livid this morning " wrote [TGT].