Senate GOP Accidentally Killed All Corporate Tax Deductions

Passing a tax bill that you wrote over lunch — and never actually read — appears to have some downsides. Mitch McConnell never subjected his blueprint for restructuring the world’s largest economy to a single hearing. His caucus never invited experts to offer insight into the bill’s implications for housing, health care, higher education, outsourcing, or tax evasion. This haste had an upside for the Senate GOP: It allowed the party to pass deeply unpopular changes to the tax code before the public had time to learn about them. The downside: it forced the party to pass a tax bill before they had time to read it. While Republicans were manically outlining their plans to take from the poor to give to the Trumps, they also, accidentally, nullified all of their corporate donors’ favorite deductions.