Most of the successful Trump tax cuts enacted in 2017 expire in 2025. But some Republicans are making noises that parts of that legislation might be pruned or eliminated altogether. Among other things, they are speculating about hiking the corporate tax rate. The reason? Congress’ Joint Committee on Taxation (JCT) says renewing the Trump package would lose $4 trillion in revenue over the next decade.
This episode of What’s Ahead warns Republicans not to retreat on these cuts. Raising taxes will hurt the economy, which by definition, will hurt revenues. In fact, if the GOP is victorious in November, Republicans should not only renew the bulk of the 2017 bill but also add more reductions to boost badly needed economic growth.
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