Why the GOP’s Dream of Tax Reform Is (Probably) Doomed
Republicans are screwing up their big tax cut. They can still salvage it. But they have to think small.
The Republican Party has long billed itself as being for family values, for the dignity of work, for lower taxes, and (at least, as the minority party) for balanced budgets.
The House GOP tax bill cuts against all of these positions.
It would raise taxes on by 2027. By eliminating the estate tax, it would benefit heirs of large estates, even if they. Meanwhile, by eliminating some tax breaks often claimed by higher earners, the plan would raise taxes on many upper-middle-class. That might be the biggest problem of all, because when the House bill is taken up in the Senate, it will not be workable under rules that prohibit new laws from adding to the debt after 10 years.
