US Senate Turns Down Bill Nelson Amendment To Tax Overhaul
On a party line vote, the U.S. Senate has rejected an amendment from Sen. Bill Nelson (D-FL) making tax cuts for individuals permanent in a tax-reform measure backed by the president and GOP leaders.
Nelson criticizes the Senate bill for permanently cutting corporate rates while putting an expiration date on reductions for individuals.
“It is giving modest breaks to the very people who need the tax cuts," Nelson says, "that is hard working American families—the middle class."
"And then oh, by the way, in seven or eight years, vamoose. It’s gone.”
Nelson’s proposal would’ve sent the plan back to committee to find a way to maintain tax relief for individuals.