THE TAX BILL – AT 12:30 P.M. ET:  Nothing is more important domestically right now than the Republican tax bill, with differing versions making their way through the House and Senate.  The GOP must get this right, and get it done, if it wants to have any prospect of keeping control of both houses next year.  From Fox: 

Rep. Kevin Brady, the House’s top tax-code writer, on Sunday defended the chamber’s overhaul plan against criticism that many middle-class Americans will pay more and turn voters against the Republican Party, vowing relief for all Americans.

“Here is where I strongly disagree,” Brady, R-Texas, chairman of the House Ways and Means Committee, told "Fox News Sunday." “I believe there is tax relief all up and down the income level for families, regardless of what they earn.”

The lawmaker is defending the plan against criticism from congressional Democrats and two analyses, including one in The New York Times that concluded one-third of middle-class families will get a tax increase.  

“They’re describing an America that doesn’t exist -- one where the economy never grows and one where your paycheck stays stagnant no matter what happens,” Brady said about The Times analysis. “I strongly disagree.”  

Senate Democrats have also panned any GOP plan that will eliminate state and local tax deductions, warning that congressional Republicans representing suburban districts especially will face voter backlash for their support.

COMMENT:  I'm not an economist or a CPA, and I know it's common for the same tax proposal to be met with widely differing interpretations.   But lame, generalized statements won't cut it for the Republicans in Congress.  They must demonstrate, through specific examples, how their legislation will help everyone in the middle class.  If they can't show that, they're toast.

November 12,  2017