With an eye toward November's midterm elections, House Republicans on Monday unveiled legislation to make permanent the individual tax cuts and pass-through business deductions that were set to expire in 2026 as part of the sweeping tax rewrite enacted late a year ago.
Republicans are eager to claim victory for the economic achievements in the past 22 months, which they see as necessary to maintaining their control of the House and the Senate, and quick to warn of the economic perils that could follow if Democrats win control of Congress.
Members of the tax-writing House Ways and Means Committee voted 21-15 along party lines to send the measure to the House floor for a full chamber vote expected by Oct 1.
"Passage is not automatic", he added.
"Anytime we're talking about tax cuts and the growing economy, we're winning", said Matt Gorman, a spokesman for the National Republican Congressional Committee, the party's main campaign support for House Republican candidates. Making the tax cuts permanent would build on the tax law's economic boost by adding 1.5 million new jobs and increasing wages, he said.
Mobile Launches iPhone Xs BOGO Deal and Free Voice Line
T-Mobile, Sprint and Verizon will each offer special deals and incentives to attract your pre-order. However, what you won't find anymore in a few months is equally interesting.
Some Democrats and independents side with the President even though they do not like the job he is doing. Much like how Ronald Reagan said about not leaving the Democratic Party and the party left him, I also feel that the Republican Party has left me. All but one were from the high-tax Democratic states of New York, New Jersey, and California.
The bill includes several retirement-related provisions that would allow small businesses to more easily offer 401 (k) plans, as well as new individual savings accounts for education and newborns. "This tax legislation won't help workers or families, but it will further enrich GOP donors and provide Republicans with more ammunition to attack programs like Medicare and Social Security". America's growth domestic product grew at a 4.2 percent rate in the second quarter of 2018, on track to grow by 3 percent this calendar year.
Three bills make up the legislation package: the Protecting Family and Small Business Tax Cuts Act, the Family Savings Act, and the American Innovation Act. National Federation of Independent Business survey found that 32 percent of small businesses said that now is a good time to expand, nearly triple the 11 percent recorded by the same survey in November 2016.
The op-ed has overtaken news in Washington and led to something of a witch hunt in the White House after the nameless official said White House staffers routinely work to stall and sabotage President Donald Trump's orders when they feel they are not in the best interests of the country.
Only half of American voters think Donald Trump is an intelligent president, a dramatic drop from what they thought of the Republican leader when he won the presidential election in 2016, a new poll has found. "I opened up our lovely economic engine with Regulation and Tax Cuts".