Republican Tax Law Has a Wee Glitch

Richard B. Levine/Levine Roberts/Newscom via ZUMA

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The GOP’s shiny new tax law has a glitch:

The new tax law would have let White Castle and other companies deduct their renovation costs immediately, rather than over many years, providing an incentive to do such work….Instead, as written, White Castle and other companies must depreciate building-renovation costs over 39 years—a less favorable rule than existed before Congress changed the law.

Well, that’s no problem. Congress will just pass a minor technical correction and everything will be fine. Right?

The process of fixing this flaw and other technical problems in the law is moving slowly, weighed down in part by lingering partisan bitterness over the crafting of the tax law, which passed without a single Democratic vote. Democrats, who recall Republicans’ reluctance to help make technical changes to the Affordable Care Act, aren’t necessarily eager to quickly correct flaws that stemmed in part from the speedy tax-bill-writing process they criticized in 2017.

“Reluctance.” Yeah, that’s the word.

In any case, goose, meet gander. This is the government that corporate America has happily gone along with and could put an end to anytime they really felt like it. But they don’t feel like it. Dysfunction, rage, and vicious racism are all OK as long as they get some tax cuts and regulatory relief now and again. This is the world they created.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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