The Republican plan to overhaul the US tax code is now one step closer to passing, after Tennessee Republican Senator Bob Corker abruptly switched his position and announced his support for the controversial bill. The surprise move came after a controversial last-minute addition to the bill that would personally enrich Corker. The provision would slash taxes on income from real estate LLCs; Corker is a real estate mogul. The New York Times reports those who will most benefit from the Republicans’ tax bill are big corporations, multimillionaires, private equity managers, private schools, liquor stores, lawyers, tax accountants and President Trump and his family. Meanwhile, Florida Senator Marco Rubio announced his support for the tax plan on Friday after an expansion to the child tax credit — even though the expansion won’t benefit the children of undocumented parents. Republican lawmakers are now pressing forward for a final vote on Trump’s tax plan this week. We speak with David Sirota, senior editor for investigations at the International Business Times.
TRANSCRIPT
AMY GOODMAN: We turn to the Republican plan to overhaul the US tax code, which appears to be a step closer to passing after Tennessee Republican Senator Bob Corker abruptly switched his position and announced his support for the tax plan. The surprise move by the Republican senator came after a controversial, last-minute addition to the bill that would personally enrich him. It would slash taxes on income from real estate LLCs. Corker is a real estate mogul. On Sunday, while speaking with ABC’s George Stephanopoulos, Senate Majority Whip John Cornyn pushed back against accusations that lawmakers slipped a “Corker kickback” into the bill.
SEN. JOHN CORNYN: Picking out one piece in a thousand-page bill and saying, “Well, this is going to benefit somebody,” I just think takes the whole bill out of context.
GEORGE STEPHANOPOULOS: Well, but except that this provision wasn’t included either in the House…