This is not the tax plan voters asked for

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"If we can reach consensus on that, including with the president, in a good way, we'll move forward - but if not, we will keep things as they are", Brady said.

Graham told Fox News Radio if Democrats won back the House they would impeach President Donald Trump "pretty quick". She said she was disappointed the budget resolution didn't include more spending cuts, but she said she would continue to work on "pro-growth tax reform to make our code simpler and fairer for all". Because Republicans hold only a slim 52-48 seat advantage in the Senate, Trump can afford to lose only two votes.

But Trump vehemently resisted this change, tweeting Monday that there would be "NO change to your 401 (k)".

Some lawmakers from states where state and local taxes are high and people benefit most from the federal income tax deduction are reluctant to contemplate such an elimination. Unfortunately, it appears that many middle-income homeowners will see their taxes go up, not down, under the Big 6 plan.

"If the SALT is repealed, we would expect some deterioration of credit quality for affected states and localities in the medium term, including some price pressure on housing markets in areas bordering states with lower local taxes (eg, southern New Jersey)", Barclays analysts wrote to clients on Thursday. Overall, the plan is expected to cut taxes by $1.5 trillion over the next 10 years.

"Lawmakers in very high-taxed states, New York, New Jersey, Illinois and California, they are anxious because their state and local politicians are just hammering them with taxes".

Tampering with 401 (k) plans, which have largely replaced defined benefit pensions in the United States, would risk alienating tens of millions of workers, as well as the mutual fund operators which rely on the plans for much of their business. "We ought to be beefing up the savers' credit more like a match that would target the tax resources to the people who need the most amount of help".

Hollywood speaks out on James Toback allegations
The piece explored the way he allegedly harassed young actresses, though it referred to the women as "pickupees", not victims. Toback, who is now 72 years old, denied all accusations against him while responding to the LA Times .

Such a decline would be the first significant sell-off of the year, he said, but would not likely be near the 20 percent decline that signifies the start of a bear market.

Ways and Means Committee Chairman Rep. Kevin Brady says he's discussing the 401 (k) issue with Trump, who has shot down the possibility of changes to the popular savings program.

And the retirement plan industry has been further concerned that lawmakers would "Rothify" any contributions above the lower cap.

Graham said not passing a tax bill would probably lead to "the end of the Republican Party as we know it". "If at the end of the day, if we can't find consensus in the country on how best to do that, we'll leave them as they are".

The almost $6 trillion GOP plan calls for steep tax cuts for corporations and promised reductions for middle-income taxpayers, a doubling of the standard deduction used by most Americans, shrinking the number of tax brackets from seven to three or four, and the repeal of inheritance taxes on multimillion-dollar estates.

The underlying budget measure abandons the Republican Party's longstanding promise to rein in deficits in favor of Trump's boast of "massive tax cuts".

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