Blog Post 2.6 - "Lobbying & Tax Reform"

1. One part of the House version of the bill could cost General Electric more than a billion dollars in taxes, specifically, the part that removes a deduction of some overseas losses on a one-time tax on overall overseas earnings. 
2. The Senate version allows them to use those losses when calculating its tax liability. 
3. Foreign airlines want to eject a provision in the Senate bill that would require them to pay taxes on income earned on US flights in some cases. Delta wants to keep this provision to raise their own profits. 
4. Number 4 is missing.
5. It will go to a conference committee where it will be merged with the House bill and sent to the White House for the president's signature. 
6. The real estate business is worried that doubling the standard deduction will discourage people from itemizing their tax returns and claiming the mortgage deduction, which is a key incentive for people to buy homes. 
7. The Build Coalition represents a group of associations from the telecommunications, manufacturing, and agricultural industries. 
8. The corporate tax rate would be slashed from 35% to 20%, and a new 25% tax rate for "pass through" businesses like partnerships, sole proprietorships, and family farms.
9. The Not One Penny interest group wants to ensure that the new tax plan is not a boon for the rich. 
10. They have been advertising in congressional districts to pressure lawmakers. It is unclear whether they are advertising to the people, in which case it would be grassroots lobbying, or if they are advertising directly to legislators, in which case it would simply be lobbying.