Report: Republican budget could allow trillion-dollar tax cut
Source: The Hill
BY MAX GREENWOOD - 09/19/17 08:39 AM EDT
Senate Republicans are weighing a budget proposal that would make room for as much as $1.5 trillion in tax cuts, according to a Wall Street Journal report.
A final decision on the matter hasn't been reached and lawmakers are still discussing budget proposals. By writing such tax cuts into the budget, Republicans would be spared, for the most part, from having to choose which tax breaks to get rid of in order to pay for the cuts.
Republicans have argued that such a tax plan would spur economic growth and reduce the overall impact of the cuts on the deficit, according to the Journal, which also notes that they may need to allow some of the cuts to expire after 10 years.
Passing a budget is crucial for Republicans to fulfill their pledge to overhaul the nation's tax code. The budget would set the allowed size of any tax cut.
Read more: http://thehill.com/policy/finance/351301-report-republican-budget-could-allow-trillion-dollar-tax-cut
ck4829
(35,090 posts)For people in offshore tax shelters and money laundering operations.
tclambert
(11,087 posts)Said by basically every Republican in Congress any time they have control of the government.
Bengus81
(6,932 posts)While those in the upper most of the top slot get their tax cut in the millions. The rest of us just pay the tab.
underpants
(182,877 posts)Just like W did.
Ooh look over there! Someone's looting a Foot Locker!!! Detailed coverage and analysis after this break.
unblock
(52,317 posts)Javaman
(62,534 posts)DeminPennswoods
(15,290 posts)Appropriations and authorization bills are where the rubber meets the road.