Back in November, incoming Speaker of the House Pelosi promised to keep Speaker Ryan’s rule requiring a “super-majority” to impose a tax hike on “the lower-earning 80% of taxpayers. Under pressure from her left, she dropped that yesterday.
The incoming chairman of the House Rules Committee, Rep. Jim McGovern (D., Mass.), confirmed to colleagues on Wednesday that he would not honor the three-fifths supermajority requirement to raise income taxes, as reportedby the Washington Post.
McGovern's decision overturns a rule implemented under outgoing Speaker Paul Ryan (R., Wis.) that mandated a three-fifths majority approve any proposed hike to the income tax.
The change comes after a standoff between Pelosi and her moderate allies in the Democratic conference, such as incoming Ways and Means Committee chairman Richard Neal (Mass.), and younger, more progressive members like Rep.-elect Alexandria Ocasio-Cortez (N.Y.).
In November Pelosi and Neal initially proposed keeping the three-fifths supermajority rule for income tax increases "on the lowest-earning 80 percent of taxpayers." That notion, however, met stern opposition from Ocasio-Cortez and other progressives because it would severely constrain the ability of House Democrats to find new revenue sources to fund measures like universal health care and free college tuition.
It’s almost as though the Democrats are determined to destroy the consumer and business confidence that was built up by Trump and powering the recovery. People with money in their pockets are less inclined to look to Washington for their salvation, and we can’t have that.