United States Republican Sen. Susan Collins on Sunday said that her vote would most likely be a “yes” on the Senate budget resolution to advance tax reform. The Senate is slated to vote on financial measures for 2018 this week, and Collins has said that she is “likely a yes” in an interview on ABC’s This Week.
Collins was one of the key players in shooting down President Trump’s attempts at repealing Obamacare, and her “yes” vote represents another vote of confidence for possible tax reform. She is also considered a bipartisan, with 54% of the 338 bills that she has cosponsored being introduced by legislators who were not Republicans.
Trump’s and the Republicans’ tax plan, however, has been criticized widely based on the fact that it will negatively impact the federal deficit by at least $6 trillion. Earlier reports showed that billionaire investor Warren Buffet was specifically against the deep cut in corporate tax, saying that today’s businesses are not necessarily non-competitive even at the current tax level of 35%.
Others have criticized the elimination of state and local tax deduction, as well as the possibility that estate tax of 40% for homes over $5.5 million ($11 million for a married couple) could be done away with.
The Senate budget resolution contains a legislative tool that will advance the tax reform bill, which could facilitate the adoption of the bill later this year.
Sen. Susan Collins is an influential player in the U.S. Senate, and is considered by many as one of “the last survivors of a once common species of moderate Northeastern Republican.” Collins became Maine’s senior Senator in 2013. The following year, Elle Magazine honored her as part of the Ten Most Powerful Women in Washington Power List. From Jan 1997 to Oct 2017, Collins missed 0 of 6,451 roll call votes, which is 0.0%.
Of note is the fact that Collins, on August 8, 2016, announced that she would not vote for Donald Trump, saying that she felt he was unsuitable for office.
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Source: CNBC
