No one wants to get the Trump tax cut on the President’s desk for signature as urgently as we do.
But the more we look at the fine print, however, the more we think Chip Roy and the other budget-hawk rabble-rousers were right to hold out for a better bill.
Three easy fixes would vastly improve the bill:
- First, the conservative upstarts were right to protest the meager Medicaid reforms. The work requirements for able-bodied adults don’t kick in until after Trump is out of office in 2029? Absurd. They should start tomorrow.
- Second, most of the $750+ billion in Biden “Green New Scam” giveaways don’t end until after 2028. Chip Roy is right: “Move those up, to front load the savings.”
- Finally, add back the 15% corporate tax rate either for all companies – or at a minimum for made-in-America producers. The House leadership argues the current bill makes the EFFECTIVE rate 15% when all the deductions are added in. If that’s true, then eliminate them all and drop the rate. Permanently. Then everyone will cheer. Deductions are bad. Rate cuts are good. Duh!
With these three reforms the tax bill, it will really be big and beautiful.