Washington, D.C. – U.S. Rep. Ed Perlmutter (CO-07) issued the following statement after voting against S. 2155, the Economic Growt...READ MORE
Colorado Delegation Splits Along Party Lines For GOP Tax Bill Votes
Colorado's delegation in both the House and Senate split along party lines for the Republican tax overhaul bill. The House approved the plan by a mostly party-line Tuesday vote of 227-203. The Senate, voting early Wednesday, passed an amended bill 51-48 in a party-line vote.
NPR reports two provisions had to be removed from the House bill before the Senate could vote on it because of rules violations. One provision at issue would allow families to use education savings accounts, often called 529 accounts, to pay for K-12 private schools and home-schooling expenses. The other would exempt private colleges and universities with fewer than 500 tuition-paying students from a new tax on their endowments.
The House is expected to vote again on the Senate-passed bill Wednesday. If the bill passes both chambers, it will be sent to the desk of President Donald Trump for his signature.
The $1.5 trillion package would provide steep tax cuts for businesses and the wealthy and more modest cuts for middle- and low-income families — some of them only temporary. The business tax cuts would take effect in January and be permanent. Workers would start to see changes in the amount of taxes withheld from their paychecks in February.
Republican Rep. Mike Coffman, who represents the eastern side of the Denver metro area including Aurora, told CPR News the legislation helps his constituents "a lot."
"If you look at doubling the standard deduction, doubling the child tax credit, lowering rates — it's a big deal."
He also suggested the temporary tax cuts might become permanent.
“I think if you look at the Bush tax cuts, they were done first temporarily, and then they were done permanently,” he said. “I suspect something like that could occur” with this bill.Content originally published by CPR on December 19, 2017.