When the Republicans passed the tax cut bill, Democrats said a lot of hysterical things, like that it was going to kill millions of Americans. One of their few objections that actually had a whiff of legitimacy was the complaint that the corporate tax cuts were permanent, while the individual tax cuts had an expiration date of 2025. The Democrats were right to point that out, even though the bill’s sponsors noted that it had to be done that way to get past the Senate.
Well, with the election just a couple of months away, House Republicans are working on a “Tax Cut 2.0” bill that would make the lower individual rates permanent (in truth, there’s no such thing as a “permanent” tax cut, since no Congress can impose permanent tax rates on future Congresses; but they can remove the specific date for the rates to go back up.)
You’ll find more details at the link. Since this tax cut bill would fix the complaint that Democrats claimed they had with the last tax cut – that the individual tax cuts weren’t “permanent” – then I assume it will attract massive Democratic support and pass the House unanimously.
And if you believe that, I have some prime ocean-front property in Little Rock that I’d love to sell you.
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