Draft Reauthorization bill (TRAIN act) release by House Transportation and Infrastructure Committeee

[Devil's Advocate]

I am hopeful that Congress will pass such a Bill as this. It will be "tweaked" by members of both Houses. Little comes out of a legislative committee at the Federal or State level that is totally accepted. There are times when debt is good. There are times when debt is bad. Considering the history of the Great Depression, in order to avoid the Great Depression II, it's time for debt.

The problem is that in the case of US policy it's always time for debt. When the economy is doing poorly we buy debt and when the economy is thriving we're still buying debt anyway. Under a more rational system we would have complimentary cycles of taxes and debt but now we just have cycles of boom debt and bust debt. This is not how cultures survive long term. This is how countries slowly weaken and eventually destroy their standing in order to perpetually enrich those at the very top.

 

[Green Maned Lion]

Sorry, I misplaced the decimal point. It’s 20 billion/328 million = $60.9756 Per, rounded to the nearest round number, or $60/$11000 (average tax bill) = 0.005454 or 0.5%. 10606/11000 = 0.9641 = 96.4%. I shouldn’t do the math in my head so much and use a calculator more often. @willem

 

[Dakota 400]

The problem is that in the case of US policy it's always time for debt. When the economy is doing poorly we buy debt and when the economy is thriving we're still buying debt anyway. Under a more rational system we would have complimentary cycles of taxes and debt but now we just have cycles of boom debt and bust debt. This is not how cultures survive long term. This is how countries slowly weaken and eventually destroy their standing in order to perpetually enrich those at the very top.

I agree with your thinking. Taxes need to increase to pay for the services that people expect. This mantra of "cut, cut, and let's cut" taxes some more has hurt my State as well as our country. When will our leaders ever come to understand that? Obviously, now is not the time to increase taxes. It just has to happen as our economy recovers or our children and grand-children will have a much more different life than my generation has experienced.

 

[Siegmund]

Now is probably as good a time as we're likely to ever see for a favorable Amtrak bill. We get a tiny bit of selfish benefit from our congress anxious to bail out every corporation in sight.

As for the endless spending - I am not a fan of that either. I agree now is the time for it... but 2017-2019 was the time to keep taxes high enough to run a surplus, not have a fire sale.

 

[me_little_me]

For money to be appropriated, it must exist. This is going to be something of a problem in the near future.

That has never stopped congress.

Look at the way they appropriate spending then later increase the tax to pay for it. Was done a lot in the past. "Lets add more people to and increase Social Security payments" while saying to seniors "look what we did for you" while increasing the social security (FICA)btax to be effective in three years so when people cry when it goes into effect, they say "It wasn't us that did it. It was a previous congress" although the same people were still there. I remember those days.
Then the Republicans came along and said "No more. We have to have income match any increases". That lasted only until the next election when they were thrown out or had to change their minds to avoid being thrown out because they raised taxes and fought (some of) the "pork barrel projects" (defined as what the other side wants).

It doesn't matter whether it is "increase defense spending and cut social welfare" or "increase "assistance to the poor and cut wasteful defense spending" or "let's increase everything because if we cooperate, we can all tell our constituents what a wonderful job we did spending more of their money to get re-elected".

Amtrak is an easy target and transit helps the big cities - which means more city voters vote for the side that favors it and fewer for the side that opposes it but that side always gets those voters so the other side gains nothing by promoting it. It's just the opposite for the aid for the military and industry which is supported by those whose assets depend on it and who are only looked upon as people to blame by the other side.

It will never really go through unless the Amtrak/transit side wins in November and controls the country (entirely possible) or we go back to the old days with everyone closer to the center and peace and love between the parties (fat chance). Those old days were when the Democrats owned the big cities of the north and the rural far right south and had to balance both by being moderate and the Republicans were more moderate with fiscal conservatism but socially in the middle.

 

[pennyk]

Please stay on the topic of the House Bill. Thank you

 

[NES28]

I participated in a web meeting where the senior committee staff members who assembled the bill explained it. A lot of thought went into its development. I would not expect this bill to pass this year but, depending on the the election, it probably will early next year. It will be a game changer,