> *Why are you making the gigantic tax cut for corporations permanent, while the tiny tax cut for individuals is temporary? Does anyone notice this?
Anyone paying attention noticed this.
https://taxfoundation.org/permanent-corporate-rate-cut-temporary-individual-tax-cut/
Senate lawmakers faced a dilemma in having to balance the multiple goals of crafting a tax reform plan that maximized economic growth, delivered middle-class tax cuts, and comported with an internal Senate rule, the Byrd Rule. This rule, named after the late West Virginia Senator Robert Byrd, prohibits tax and spending bills from increasing the federal deficit beyond the ten-year budget window.
The Byrd Rule is intended to prevent budget gimmicks that circumvent the budget resolutions by back-loading tax cuts so that they may meet the ten-year revenue mandates in the budget resolutions but deliver big tax cuts later. Unfortunately, the effect of the Byrd Rule is to make many permanent tax changes difficult to enact.
To comply with the Byrd Rule, the Finance Committee faced a choice: It could sunset all or some of the tax cuts at the end of ten years, in the same way that the 2001 and 2003 tax cuts were designed to expire in 2011 and 2013, or offset those future tax cuts by raising other taxes or closing additional loopholes.
None of these options are optimal.
Yesterday's Congress cannot tell today's what to do. The Senate can do as it pleases, and, if the House and DJT agree, it's the law. Byrd Rule or not.
A GOP congress with a GOP president should have slashed spending as well. But congress rejected all the spending cuts Trump tepidly proposed earlier this year.