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RE: LeoThread 2025-05-28 05:39

in LeoFinance5 months ago

Norquist refused to budge, arguing that such a maneuver would prove a politically disastrous "attack on the small-business community," the Post reported.

"We showed how weak and nonexistent this quote-unquote 'movement' for higher taxes is within the Republican Party," Norquist said. "The House and the Senate have been in lockstep: This is not happening, period. But I'm glad we had this movement because it allowed us to expose this little cancer cell in the party pushing the idea."

Critics of the House legislation say it disproportionately benefits taxpayers at the top of the income distribution, though most of the bill's more than $2.5 trillion price tag comes from measures that primarily benefit middle-class taxpayers, the Post reported.

The nonpartisan Joint Committee on Taxation estimated that people earning between $30,000 and $80,000 would pay around 15% less in taxes in 2027.