The Republican Party’s attempt to promote “tax reform” will fail, whether it passes or not.
The likelihood is that Republicans in New York, New Jersey, Illinois, and California will refuse to vote for it, since it ends deduction of state and local income taxes on tax forms in those states.
It is also likely that a few Republicans in the US Senate will oppose it because of other aspects of the plan that make it uncomfortable to support.
The bill would victimize the middle class, and promote greater concentration of wealth in the top one percent and the corporations.
It would harm the white working class voters who put Donald Trump in office in Michigan, Wisconsin, Pennsylvania and Ohio.
The legislation adds $1.75 trillion to the national debt, and cuts so many programs and benefits, displeasing deficit hawks because of the former, and moderates and independents due to the latter.
Charities will be harmed by the legislation, and home builders and real estate agents will be affected by limits on mortgage interest deductions, making people less willing to buy homes, and instead to rent their housing.
Corporations will gain the most from the legislation, and many Americans are angry that many corporations already pay little or no taxes.
The legislation would also hurt Obamacare in a different form, even after failure to repeal it earlier this year, and no replacement is offered for millions of Americans who benefit from it.
The end of the estate tax, which affects so few people, also will displease the average American, who does not understand why all inheritances should be untouched in any way by taxes, as wealthy people have a responsibility to pay their fair share in life, as well as at the end of life, rather than pass on tens of millions to their heirs, without any responsibility to contribute to the future of American society.
Also, medical deductions would be limited, and students who have massive loan payments would not be able to deduct any of them on their tax return, undermining the sick and the young.
One can expect that this legislation will not pass, and therefore will harm the Republican Party, but if somehow it does pass, it also will harm the Republican brand in the 2018 midterm elections!