Since he’s been in office, Congressman John Delaney has had a tax plan to grant amnesty to American corporations who have stashed their money overseas: bring the money home, pay (greatly reduced) taxes, and we’ll spend the money on infrastructure projects on which many of these companies will get to make more money.
Crickets. Not exactly a super duper Democratic Party plan. But hey, Donald Trump is gonna be in charge now, so Delaney’s gonna give it another go.
Rep. John Delaney (D-Md.) has been pushing a plan to use a one-time tax on accumulated overseas corporate profits to pay for infrastructure projects since he first ran for office in 2012, but without much success.
Now with his political rivals poised to retain control of Congress and occupy the White House, Delaney’s repatriation tax proposal may find new life.
“There’s been comments coming out of the new administration indicating they’re interested in this kind of a framing,” the three-term congressman said recently.
As the only former chief executive of a publicly traded company in Congress, Delaney has burnished a centrist image. Last year, a bipartisan group of lawmakers looking for a way to generate revenue for the Highway Trust Fund, a pot of money designated for transportation projects, backed his bill for the one-time tax.
Look, it’s no secret that John Delaney wants to run for governor. He’s been banging that drum for at least three years now. But that spiffy “centrist image” so highly valued by the #BothSidesDoIt fanboys and girls down at the Washington Post is in the real world an albatross around Delaney’s neck. It’s been clear for some time that he has pretty much zero chance of winning a statewide Democratic primary, and with an angry and reeling Democratic base itching for confrontation with the new barbarians in town, I fail to see how “hey look, I got the Orange Satan to pass a bill to benefit corporations and give them a chance to make even more obscene profits” is going to endear him to progressives out for blood, preferably delivered in really large buckets.
Which makes Jenna Portnoy’s next paragraph simply laughable:
If Delaney can claim a piece of whatever international tax reform legislation emerges from the 115th Congress, it could help propel the wealthy former health-care financier to a statewide campaign.
Are you kidding me? In which political party is this glorious “statewide campaign” going to occur?
“I got Trump to pass my tax bill, make me governor of one of the bluest states in America.”
Oh, yes, sir, right away, Mr. Delaney, sir. What other fantastic Democratic stuff are you working on these days?
Returning to a Congress in which both chambers are dominated by Republicans, Delaney said he will continue to push for a Social Security Commission, a carbon pricing bill and redistricting reform.
Social Security reform. Yeah, that’s always a big winner with Democrats. And I’m sure the GOP Congress is gonna get right on some environmental and voting rights stuff, because well, of course they will.
One word of warning to the Congressman: when even the Post’s favorite pundit-in-a-box Todd Eberly raises questions about your plan, you might want to rethink it.