Republicans Planning to Unleash ‘Tax Cuts 2.0’ in September, Stick It to Democrats

Despite public support for the recent tax code overhaul plummeting in the past two months, Republicans think another round of tax cuts is a good idea. So, it’s likely the House of Representatives will vote on new tax legislation in September, said House Ways and Means Committee Chairman Kevin Brady (R-TX).

Brady, who spoke at the White House on July 17, said he anticipates the Senate setting a timetable soon as well, according to The Hill.

The focus of the tax package, which many are calling “tax cuts 2.0,” is a permanent extension of the tax cuts for individuals that were a part of the Tax Cuts and Jobs Act, according to the article. And here’s Brady’s dig at Democrats:

Brady said that he thinks it’s important to cement the tax cuts so that Democrats can’t reverse the benefits for middle-class taxpayers in the future.

“We can protect them against a future Washington trying to steal back those hard-earned dollars that [President Trump] and Republicans in Congress has given them,” Brady said.

What Brady has to realize is that, while the House would likely easily pass the tax bill, it would probably face some resistance in the Senate, where some Democratic support would be needed for it to pass in that chamber. And according to The Hill, some Senate Republicans are weary of voting for another tax-cut bill if it would further add to the deficit.

Politico mentioned in today’s Morning Tax tipsheet that “Senate Democrats would surely block another round of tax cuts if they got the chance … and there’s questions about whether it’s smart politics for Senate Republicans to give vulnerable Democrats a chance to back the measure even as it falls short of the necessary 60 votes.”

Rank-and-file Republicans are supposed to begin hearing more about the tax cuts 2.0 framework as soon as this week, according to Politico.

[The Hill] [Politico]

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