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Republican Establishment Bails Out Big Business in $85 Billion Tax Break Bill

Will Donald Trump win the 2024 election?

The ruling class of Big Business and their political partners are at it again, this time with a mammoth, bipartisan $85 billion two-year tax break bill moving through the Senate that would increase government spending for their mutual gain.

The Senate Finance Committee recently passed a “tax extender” bill that includes over 50 tax breaks for special business interests. Some of these loopholes include breaks for Hollywood studios, rum importers, wind production and NASCAR track owners, recurring items that were stuck into the 2013 Fiscal Cliff deal that expired at the end of last year. Others new additions include tax benefits for bike riding commuters, and a tax break for production costs of Broadway plays. Senator Charles Schumer (D-NY) is responsible for including these New York centric items in the bill.

It would be convenient to blame progressives like Senator Schumer for the spending spree in the tax extenders bills, but the reality is, Republicans are equally at fault. Senators Orrin Hatch (R-UT), John Thune (R-SD), Charles Grassley (R-IA) and Pat Roberts (R-KS) all played a part in pushing the bill through the Finance Committee.

Big-spending Republican Senators damage the limited government brand of the GOP. Their enabling of collusion between big business and big government is the driving force behind Tea Party efforts to challenge the political establishment and special interests that seek financial gain through the growth of government.

The hypocrisy surrounding spending is especially keen with Republican leadership and the big business community. Republicans talk about cutting the size of government, especially when they face a primary battle from the fiscally conservative right. But their rhetoric fails miserably when the time comes to take a principled stand to cut spending.

Read my entire commentary.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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