Tax Cuts and Jobs Act of 2017

Tax Cuts and Jobs Act of 2017

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Updated Dec 22, 2017 at 01:37PM EST by Adam.

Added Dec 04, 2017 at 03:29PM EST by Matt.

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The Tax Cuts and Jobs Act of 2017 is the name of the congressional republican tax bill that set forth a plan to simplify the tax code and change the tax rate for individuals and business.[17] However, the bill became the subject of controversy after numerous additions were made to the bill that seemingly were made to the bill that many considered rider provisions, as well as the estimates that the plan would add $1.5 trillion to the national debt.


The Tax Cuts and Jobs Act of 2017 was introduced the United States House of Representatives on November 2nd, 2017 by Texas Republican Representative Kevin Brady.[1] One week later, it was approved by the House Ways and Means Committee, officially allowing the bill to be voted on by congress.


House of Representatives

On November 16th, the bill was passed by the U.S. House of Representatives in a nearly party-line vote of 227-205.[2] Only 13 Republicans voted "No" to the bill, while no Democrat voted for it. The bill sought to enact $1.5 trillion in tax cuts at a speed, the New York Times noted, "stunned many in Washington.


On December 1st, 2017, as the Senate prepared to vote on the bill, discussions on the Senate floor stalled over a "trigger," which would raise taxes if the bill failed after implemented. Voting was stalled until the folllowing day.[4]

The next day, hearings and debate resumed, and the bill was passed just before 2am on Saturday. During the vote, Senate Democrats argued about the length of the bill and little time to read the entire, 479 page bill. Democrats were denied a motion to delay the vote so that they could read the plan. The vote was strictly party line. 51 Republicans voted for the bill and 49 Democrats voted against it.[5]

Scribbled Policy Changes

ON December 1st, Senator Bob Menendez tweeted [3] pages of the bill with Xs and lines through the text. He wrote, "Okay this is absurd. One page of the new #GOPTaxPlan is crossed out with an ex. Another page is just a line. Is that a crossout? Is this page part of the bill? WHY AM I ASKING THESE QUESTIONS HOURS BEFORE WE VOTE ON IT?? #GOPTaxScam." The tweet (shown below, left) received more than 22,000 retweets and 35,000 likes in less than four days.

Senator Dick Durbin tweeted another page with the caption "Trying to review the #GOPTaxScam but they are making hand-written changes to brand new text as we speak – can anyone else read this?" The post (shown below, right) received more than 13,000 rewteets and 16,000 likes in four days.

Senator Bob Menendez @SenatorMenendez Okay this is absurd. One page of the new #GOPTaxPlan is crossed out with an ex Another page is just a line. Is that a crossout? Is this page part of the bill? WHY AM I ASKING THESE QUESTIONS HOURS BEFORE WE VOTE ON IT?? #GOPTaxScam Ia typa not generally offered in public school cur- ricula, which is provided by a teacher or other in- structor who s certified as havig had significant (2) the net amount of unf of payments for tuition described seetion and related expenses 170 (p)(2)(A) received wih respeet to the individual during the calendar year 4post-secondary rNigious stud "(4) No DONBLEBENEFIT-No deduction "(3) a certifieation that the institution meets the requirements of seetjon 170(p)(2) (C), and shal be allowed uter this subsection for the amount of any expense for which a deduetion, credit or exclusion j allowed to ths taxpayer under any other (b) INFRMATION RETURNS_ 10 "4) such other information as the Secretary as 8 may preseribe 12(b) STATEMENTS TO BE FURNISHED TO INDIVI 13 UALs WITH RESPECT TO WHOM INFORMATION IS RE- 14 QuIRED-Every person reqpired to make a return under 15 subsection (a) shall furnish to each individual whose name 16 is required to be set forth in such return under subpara- 17 graph (a)(1) a written statement showing- 18 19 on of this chapter.". 10 IN GENERALSubpart B oprt III of 12 sbchapter A of chapter 61, as amended by seetions 13 14 15“s 16 13306 and 13518, is amended by adding a the end the following new section: "(1) the name, address, and phone number of RETURNS RELATING TO FOR QUALI the information eontact of the person requ ED RELIGIOUS Senator D--- Durbin @SenatorDurbin Trying to review the #GOPTaxScam but they are making hand-written changes to brand new text as we speak - can anyone else read (D) MPFECTIVE DATE. The amendment made by 2 this section shall apply to taxable years beginning ater 3 December 31, 2017 4 SEc. 13548. MODIFICATION OF TREATMENT OF S cOnPORA- a adjust TION CONVERSIONS TO C CORPORATIONS 6(a) IN GBNERAL-Secetion 1871 is amended by add-prem 9.cpora to Convirsion 7 ing at the end the following new subsection 8" CASH DISTRTBUTIONS FOLLOWING PosT-TERMI- anded by 9 NATION TRANSITION PERIOD adaing athu en hu tollowing new 10 "1) IN GENERAI-In the case of a distribu- ouseuhon by an eligible terminated S corpora-GOAdja mens 12 tion after the post-termination transition period, the athi 13 aeeummlated adjustments accout shall be allocated Cim 14 to such distribution, and the distribution shall be 15 chargeable to accumulated earnings and profits, indn the same ratio as the amount of such accumulated 17 adjustments account bears to the amount of such ac- n 18 19 20 Sc eumulated earnings and profits. (2) ELIGIBLE TERMINATED CORPORA- ay TION.-Por purposes of this subsection, the term 'el- igible terminated S eorporation' means any C cor- poration_ ha ed/netm 21 23 "(A) which- 시사人

Throughout the night, people began posting various notes of scribbled handwriting on Twitter. Twitter[7] user @ChuckWendig referenced the mock conspiracy theory Ted Cruz Zodiac Killer tweeted a picture of the Zodiac killer's infamous notes with the caption, "I see they've released the Senate tax bill, finally. Looks like Ted Cruz took a whack at it. #TaxScamBill." The post (shown below, left) received more than 975 retweets and 2800 likes in less than five days. Twitter[8] user @OsitaNwanevu tweeted the bill next to the Hello Mr. Police drawing from the film The Snowman. The tweet (shown below, right) received more than 2,000 retweets and 7,900 likes in less than five days.

l see they've released the Senate tax bill, finally. Looks like Ted Cruz took a whack at it #TaxScamBill This is the Zodias speaking I have beaan- very #at with the people .4 Saar Ares. They have with wy wirke The Hap Can anyone else make sense of this? I don't get it 9 7623(b)(5)(B) is amended by striking "tax, penalties, 10 terest, additions to tax, and additional amounts" and in- 11 serting "proceeds" 12 d) EFFECTIVE DATE.-The amendments made by 13 this section shall apply to information provided before, on, 14 or after the date of the enactment of this Act with respect 15 to which a final determination for an award has not been 16 made before such date of enactment 17 18 SEC. 11081. ELIMINATION oF SHARED RESPONSIBILITY 19 20 21 (a) IN GENERAL.-Section 5000A(e is amended- : HELLO MR PA PART VIII-INDIVIDUAL MANDATE PAYMENT FOR INDIVIDUALS FAILING TO MAINTAIN MINIMUM ESSENTIAL COVERAGE. (1) in paragraph (2)(B(, by striking "2.5 percent" and inserting "Zero percent", and 23 24 (2) in paragraph (3)-

Online Reaction

News regarding the tax bill reached the front page of Reddit's /r/Politics page numerous times, collecting more than 50,000 points.[9][10][11][12]

Since it was announced, Twitter published several Moments pages about news of the bill.[13][14][15][16]

Paul Ryan's Gavel Bang

Paul Ryan's Gavel Bang is a series of image macros and jokes that referencing Speaker of the House Paul Ryan's banging of the gavel to declare the passage of the Tax Cuts and Job Acts of 2017.

Tremendous, Tremendous Things

On December 22nd, 2017, Donald Trump signed into law the Tax Cuts and Jobs Act. In a video of the signing, Trump placed his hand on the bill and said "Everything in here, it's really, it's tremendous things."

After the video began spreading, Twitter began joking about that quote, thanks to a tweet by user @christinawilkie[18] which quoted the president (shown below).

Christina Wilkie @christinawilkie Follow Trump, putting his hand on the tax bill text, says, "Everything in here is, it's really, it's tremendous things." 13 3

Her tweet was then quoted by several other Twitter users who presented Trump's quote with different, humorous captions, such as a person trying to explain something they know nothing about. For example, Twitter user @maggieserota tweeted such a joke that gained over 20 retweets and 110 likes in a little over an hour (shown below, left). User @ditzkoff tweeted a joke about reading Ulysses that gained over 60 retweets and 530 likes in the same time. The moment was covered by Twitter Moments.[19]

Maggie Serota @maggieserota Following Me giving a book report by scanning the summary on the back of the novel. Christina Wilkie@christinawilkie Trump, putting his hand on the tax bill text, says, "Everything in here is, it's really, it's tremendous things." 1:19 PM-22 Dec 2017 Dave Itzkoff @ditzkoff Follow me in 1997: takes 8-week long seminar on James Joyce's Ulysses me, seeing that same copy of Ulysses on my bookshelf in 2017 Christina Wilkie Φ @christinaw.lkie Trump, putting his hand on the tax bill text, says, "Everything in here is, it's really, it's tremendous things." :08 PM-22 Dec 2017

Search Interest

External References

[1] Slate – Republicans Celebrate a Plausible Tax Bill

[2] The New York Times – House Passes Tax Bill, as Does Senate Panel

[3] Twitter – @SenatorMenendez's Tweet

[4] Reuters – Republican tax bill stumbles on deficit 'trigger,' new options weighed

[5] CBS – Tax bill: Senate passes sweeping tax overhaul in early morning vote

[6] Twitter – @SenatorDurbin's Tweet

[7] Twitter – @ChuckWendig's Tweet

[8] Twitter – @OsitaNwanevu's Tweet

[9] Reddit – GOP Senator says it’s hard to fund $14 billion children’s health care program -- then advocates for $1 trillion tax cut

[10] Reddit – "US Senate passes tax cuts for America's richest in late-night vote ":

[11] Reddit – GOP senator: No tax cuts for working people because they blow them on “booze or women”

[12] Reddit – CEOs agree: Corporate tax cuts won't trickle down

[13] Twitter – Republicans unveil details of new tax plan

[14] Twitter – Senate tax bill covered in handwritten notes and people are complaining

[15] Twitter – Why the tax bill hinges on a debate about cuts and economic growth

[16] Twitter – Top GOP senators say they have the votes to pass the tax reform bill

[17] – H.R.1 – Tax Cuts and Jobs Act

[18] Twitter – @christinawilkie

[19] Twitter Moments – Trump's tax bill praise is on the verge of meme-dom

Recent Videos 1 total

Recent Images 13 total

Top Comments


wow yeah this is shit

personal theory here: my bet is that republican establishment promised wealthy donors a certain kind of tax cut for when they gained full control, on the assumption that they could repeal obamacare with that kinda control, but when they ended up not being able to they were stuck with math that didn't work no matter how much they tried. so now they're just trying to force it through.

also, stretching it a bit to put this on a meme site ey guys? it's a tax plan lol, the only memetic spread it's gonna get is political tweets about it.


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