Eastern Washington Republic congresswoman Cathy McMorris Rodgers is touting her party’s tax law in advance of the vote in the US House.
The new bill worked out between the House and Senate has some different features from the previous house bill. It would feature 7 tax brackets, unlike the four originally envisioned. Among the provisions, big changes in the standard deduction , from $6,500 for individuals and $13,000 for families to $12,000 and $24,000, respectively.
Although the Congressional Joint Committee on Taxation has estimated the tax plan would result in a 1.4 trillion dollar increase to the deficit in 10 years, McMorris Rodgers believes the plan will spur enough economic growth that the deficit won’t be increased:
“And when you look a their projection, they never thought we’d get over 2 percent GDP growth, and I believe and many economists agree we wills see more growth. When we get more investments, and less jobs moving overseas like the current exodus, ” she said.
The last two quarters, the GDP has been at around 3 percent.
McMorris Rodgers is also in favor of the latest budget proposal dropping the so called “individual mandate” for health insurance:
“But imposing a fine on people who don’t have health insurance or a government approved plan , that was wrong to me,” said McMorris Rodgers.
The General Accounting office has estimated that some 13 million people could lose their health insurance in the next ten years if the mandate is dropped, as they expect the premium prices to increase if healthy people decide to not carry insurance.
