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babylonsister

(171,042 posts)
Fri Oct 28, 2022, 09:37 AM Oct 2022

House GOP Seeks to Make Trump Tax Cuts Permanent

Of course they do and just ignore all the positive measures Biden has introduced for the people.

https://politicalwire.com/2022/10/28/house-gop-seeks-to-make-trump-tax-cuts-permanent/

House GOP Seeks to Make Trump Tax Cuts Permanent
October 28, 2022 at 8:50 am EDT By Taegan Goddard


“House Republicans on the chief tax-writing Ways and Means Committee are seeking to make the tax cuts and adjustments enacted in the 2017 overhaul of the tax system permanent, a move economists say would stimulate the economy at the same time the Federal Reserve is trying to rein in demand against 40-year-high inflation,” The Hill reports.
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House GOP Seeks to Make Trump Tax Cuts Permanent (Original Post) babylonsister Oct 2022 OP
Thank the Almighty for President Biden's veto pen Aviation Pro Oct 2022 #1
They can't see the economic mess Trump created ? C_U_L8R Oct 2022 #2
Redistribution of wealth, further no_hypocrisy Oct 2022 #3
Increase the deficit further Zambero Oct 2022 #4
GOP wants to push to extend Trump tax cuts after midterm elections LetMyPeopleVote Oct 2022 #5
And there it is. The only policy the repugs have. Ray Bruns Oct 2022 #6
Why not? IggleDuer Oct 2022 #7
You forgot to add this. Ray Bruns Oct 2022 #8
When your only tool is a hammer, all of your problems start to look like nails...nt Wounded Bear Oct 2022 #9
They're also VERY worried about the deficit. nt Mc Mike Oct 2022 #10
Those were a Tax Hike for most people IbogaProject Oct 2022 #11

LetMyPeopleVote

(145,046 posts)
5. GOP wants to push to extend Trump tax cuts after midterm elections
Fri Oct 28, 2022, 10:06 AM
Oct 2022

The GOP want to cut Social Security and Medicare in order to be able to expend The TFG tax cuts. A vote for a republican is a vote to cut social security and to extend the TFG tax cuts



https://www.washingtonpost.com/us-policy/2022/10/17/republicans-tax-trump-biden/

Republicans plan to push to extend key parts of President Donald Trump’s tax cuts if they take control of Congress in this fall’s elections, aiming to force President Biden to codify trillions of dollars worth of lower taxes touted by his predecessor.

With Democrats likely to lose control of the House of Representatives and possibly the Senate, Republicans are preparing to advance legislation that would make permanent the GOP’s 2017 changes to the tax rates paid by individuals. Republican officials will also push for scrapping some of the law’s specific tax increases on corporations that were designed to offset the cost of their enormous overall cut to the corporate tax rate.

Many economists say the GOP’s plans to expand the tax cuts flies against their promises to fight inflation and reduce the federal deficit, which have emerged as central themes of their 2022 midterm campaign rhetoric. Tax cuts boost inflation just like new spending, because they increase economic demand and throw it out of balance with supply. But Republicans say they believe these efforts would put Biden in a political bind, requiring him to choose between vetoing the tax cuts — giving the GOP an attack line in the 2024 presidential election — or allowing Republicans to win on one of their central legislative agenda items.,,,,

“While President Biden and congressional Democrats are fighting to make middle class families the heart of our economy. … Republicans want to sell those families out to rich special interests and by doubling down on their 2017 tax giveaway to the ultrawealthy and corporations,” White House spokesman Andrew Bates said.

The fight over Trump’s tax cuts could become a key feature of divided government should Republicans take control of one or both branches of Congress. Congressional lawmakers and the White House will have to come to agreements over funding the government, averting a breach of the debt ceiling and other spending bills — negotiations that will give the GOP an opportunity to press their policy demands. Democrats used control of the House after the 2018 midterm elections to push Trump into accepting many of their priorities, such as expanded domestic spending and paid leave for federal workers......

But Republicans say they are committed to extending the cuts. “The Tax Cuts and Jobs Act has been providing real, substantial relief to families and businesses,” said Rep. Jason T. Smith (R-Mo.), the ranking member of the House Budget Committee, in a statement. “We need to build on that success by making permanent those policies that are supporting families and workers while looking at what more needs to be done to the tax code.”

IbogaProject

(2,800 posts)
11. Those were a Tax Hike for most people
Fri Oct 28, 2022, 05:48 PM
Oct 2022

Those cuts for the wealthy were partly funded by a stealth hike that increases on most taxpayers in 2021, 23, 25 & 27. It is misinformation to speak of a tax cut for the few with hikes on most people as a cut.

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