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7 things that will change when Democrats control the Senate

JayDubya

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7 things that will change when Democrats control the Senate

https://www.aol.com/finance/7-things-change-democrats-control-163322044.html

Democrats have pulled off an apparent sweep in the 2020 elections, after all.

Incoming President Joe Biden and his fellow Democrats underperformed in the November elections, winning fewer Senate seats than polls predicted and losing seats in the House. Biden himself won several key swing states by a vote margin of less than 1%.

But the surprise wins by two Democratic challengers in the Georgia Senate runoff races on Jan. 5 will give Democrats the narrowest possible majority in the Senate, and total control of government for at least the next two years. That will produce a different set of legislative outcomes than if Republicans had held the Senate and exercised a kind of veto power over Democratic priorities. Here’s what’s likely to change:

Cabinet nominees. Biden is now likely to get most or all of his Cabinet nominees confirmed, instead of battling with Republicans who may have torpedoed nominees they felt were too liberal or otherwise objectionable. That’s good news for Neera Tanden, Biden’s controversial nominee to be budget director, who has clashed with many Republicans and was a possible shoot-down. She’s more likely to make it now. It also allows Biden to tap Judge Merrick Garland as attorney general, as reported, because a Democratic Senate will likely confirm a like-minded judge on the appeals court where Garland now serves. Biden will have a much easier time getting judicial nominees confirmed, as well.

More stimulus money. Biden said on Jan. 4 that if Democrats take the Senate, “those $2,000 checks will go out the door.” He was referring to a proposal to send $2,000 stimulus checks to most Americans that the Senate shot down in late December. Congress did approve $600 checks at the end of last year, so Democrats might settle for $1,400 checks, to make up the difference. That’s not necessarily the best use of stimulus money. Targeting aid at the unemployed would probably be more effective. But having made this promise, Democrats probably need to follow through. It will add to the annual deficit but help the economy in the short run.

More aid for cities and state. Senate Republicans shot this down in the last stimulus bill because Democrats wouldn’t agree to their demand for a coronavirus liability wavier for businesses. Democrats won’t have to negotiate on that now, and will probably approve at least $160 billion in state and local aid. The next stimulus package, likely around March, will probably include another extension of supplemental unemployment insurance for those out of work, as well. The current benefit, $300 per week, will expire in March. Some Democrats want to raise this to $600, but that might be too costly if coupled with another round of stimulus checks. All told, new stimulus spending in 2021 could total $1 trillion, double or triple what a Republican Senate might have approved.

Higher taxes. Businesses and investors worry most about Biden’s plan to raise taxes, but Biden’s plans are not likely to become reality any time soon. Biden wants to raise the corporate rate from 21% to 28%, and raise income tax raise on workers earning more than $400,000. He’d also raise the capital gains tax for people earning more than $1 million. There are a couple problems with this agenda. First, raising anybody’s taxes during an economic downturn such as we’re in now can harm a recovery. So Biden might have to wait. Second, there are three or four conservative Democrats in the Senate who are unlikely to vote for major tax hikes, and might support a deeply discounted version of Biden’s plan, at best. Goldman Sachs predicts Democrats will only pass “incremental increases in taxes,” and not until late in 2021.

Repeal of the limit on SALT deductions. The Republican tax law of 2017 capped the amount of deductions for state and local taxes at $10,000. That affected high-income Democratic states such as New York and California more than Republican states, and Democrats have sought to reverse the change ever since. That could be part of tax legislation in 2021, but the problem for Dems is that repealing the SALT deduction mainly benefits wealthy taxpayers. To divert attention from that, Dems would have to raise other taxes on the wealthy and maybe include a modest tax cut for middle-income workers.

Infrastructure spending. Biden wants a big infrastructure bill, and some Republicans might go along with it. The catch is that this would require funding, which gets back to those tax increases. So even if Democrats can agree among themselves on a spending bill, they might not agree on where to get the money.

Obamacare. The Affordable Care Act will survive, despite court challenges that are still trying to kill it. Democrats can now pass simple changes to the law that would invalidate the recent suit against the law the Supreme Court heard in November. More than a decade after Congress passed the ACA, legal challenges might finally end. Democrats could also vote to make modest improvements, such as raising the income cutoff for people to qualify for insurance subsidies. Republicans are already plotting how to take back control from the Democrats in the 2022 midterms, but they’re probably done promising to “repeal and replace” the ACA.
 

solarion

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Usc96

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Higher taxes. Businesses and investors worry most about Biden’s plan to raise taxes, but Biden’s plans are not likely to become reality any time soon. Biden wants to raise the corporate rate from 21% to 28%, and raise income tax raise on workers earning more than $400,000. He’d also raise the capital gains tax for people earning more than $1 million. There are a couple problems with this agenda. First, raising anybody’s taxes during an economic downturn such as we’re in now can harm a recovery. So Biden might have to wait. Second, there are three or four conservative Democrats in the Senate who are unlikely to vote for major tax hikes, and might support a deeply discounted version of Biden’s plan, at best. Goldman Sachs predicts Democrats will only pass “incremental increases in taxes,” and not until late in 2021.
Unless I am mistaken, a tax passed on December 31, 2021 can be made retroactive to January 1, 2021 and we get screwed as if it happened on day 1.
 

solarion

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#5
You got THAT right !! So much evidence that the election was RIGGED and NOTHING is done by the Supreme Court !!!
True, but the supreme traitors did manage to rule on abortion pill restrictions today. Ya know...important stuff. So there is that. I mean we're hurtling toward 1776 redux, but at least they've clarified their stance on when and how pregnancies can be chemically aborted.
Unless I am mistaken, a tax passed on December 31, 2021 can be made retroactive to January 1, 2021 and we get screwed as if it happened on day 1.
Which would really suck for people still foolish enough to pay income taxes into a thoroughly corrupt federal regime led by an unelected treasonous usurper.
 

newmisty

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"Apparent sweep" :belly laugh::dduck:
 

cameo

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Unless I am mistaken, a tax passed on December 31, 2021 can be made retroactive to January 1, 2021 and we get screwed as if it happened on day 1.
With Fingers Biden and that WHORE he picked as VP, Camela ……… Americans are going to get ROYALLY SCREWED every which way , every day !!
 

Buck

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#8
i still can't get over how they created an office out of thin air...

Office of President Elect

they have absolutely no shame and i don't either when i say i'll be happy to see them swing
 

dacrunch

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If Biden gets into office, MASSIVE DISCLOSURE OF SWAMP CREATURES' CRIMES & TREASON, with PROOF ACCUMULATED OVER 4 YEARS.

They tried it with FALSE UNSUBSTANTIATED ALLEGATIONS against Trump, as soon as he entered office, but Trump HAS THE GOODS ON THEM, or MOST of them, by now. UNDENIABLE PROOF.

And they couldn't accuse Trump of "abusing the power of his office", since he would NOT be "in office", but the PLAINTIFF.

What an implosion!!! "Biblical".

I'm ready to become a bit more "patient" now...
 

Mr Paradise

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i still can't get over how they created an office out of thin air...

Office of President Elect

they have absolutely no shame and i don't either when i say i'll be happy to see them swing

oh the humanity...


The Office of the President-Elect was a title used by Barack Obama for the body coordinating his transition activities of the President-elect of the United States. The office is not mentioned in the U.S. Constitution, nor is it a statutory office of the federal government; however, under the Presidential Transition Act of 1963, amended by the Presidential Transitions Effectiveness Act of 1998 and the Presidential Transition Act of 2000, the President-Elect is entitled to request and receive certain privileges from the General Services Administration as he prepares to assume office.
 

spinalcracker

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If Biden gets into office, MASSIVE DISCLOSURE OF SWAMP CREATURES' CRIMES & TREASON, with PROOF ACCUMULATED OVER 4 YEARS.

They tried it with FALSE UNSUBSTANTIATED ALLEGATIONS against Trump, as soon as he entered office, but Trump HAS THE GOODS ON THEM, or MOST of them, by now. UNDENIABLE PROOF.

And they couldn't accuse Trump of "abusing the power of his office", since he would NOT be "in office", but the PLAINTIFF.

What an implosion!!! "Biblical".

I'm ready to become a bit more "patient" now...

your optimism is commendable , call me a Doubting Thomas , unless I see them in court I won’t believe

my jadedness has been honed by government lies and corruption , the last episode really set me back , when the NYPD Chief of Police said that if the fbi did nothing about revealing the contents of weiners laptop that he , the NYPD Chief of Police , would personally publicize the contents because he had BACKUPS of the Insurance File and would release the tapes publicly....

that was four years ago and NOTHING.......

the evildoers have shut the Chief down and if I’m not mistaken , several of the NYPD special victims child pornography squad that was investigating Weiner , have mysteriously passed away , imagine that.
 

dacrunch

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your optimism is commendable , call me a Doubting Thomas , unless I see them in court I won’t believe

my jadedness has been honed by government lies and corruption , the last episode really set me back , when the NYPD Chief of Police said that if the fbi did nothing about revealing the contents of weiners laptop that he , the NYPD Chief of Police , would personally publicize the contents because he had BACKUPS of the Insurance File and would release the tapes publicly....

that was four years ago and NOTHING.......

the evildoers have shut the Chief down and if I’m not mistaken , several of the NYPD special victims child pornography squad that was investigating Weiner , have mysteriously passed away , imagine that.
I think it is more than half of the cops who saw the laptop files who came to untimely violent deaths...
 

Mr Paradise

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With Fingers Biden and that WHORE he picked as VP, Camela ……… Americans are going to get ROYALLY SCREWED every which way , every day !!
Turn off Fox News and ease up on the doom & gloom pumping before you have a stroke Grandpa.
 

TAEZZAR

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#15
Fortunately not 1 of those 7 things will have any impact on my life.
Don't be too sure of that. They ALL have consequences, as SHIT RUNS DOWNHILL !!!
 

Buck

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#16
oh the humanity...


The Office of the President-Elect was a title used by Barack Obama for the body coordinating his transition activities of the President-elect of the United States. The office is not mentioned in the U.S. Constitution, nor is it a statutory office of the federal government; however, under the Presidential Transition Act of 1963, amended by the Presidential Transitions Effectiveness Act of 1998 and the Presidential Transition Act of 2000, the President-Elect is entitled to request and receive certain privileges from the General Services Administration as he prepares to assume office.
i appreciate that walk down memory lane...

apologies to Jo, he wasn't even an original on this one either


oh the humanity
 

Buck

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#18
Da Crunch was right about putting you on "ignore" !! I`m on the verge of doing so myself .........
there is an 'On' feature, for your use in the future, if you choose to, and that makes the journey a more pleasant one

:green tea: