Policymakers in the new Republican-controlled Congress have a problem. President Trump has hosted a series of meetings at Mar-a-Lago concerning the expiration of his 2017 taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. cuts, but between the fiscal hawks, congressional leadership, and members of the SALT Caucus, there is no shortage of competing political priorities. Just as challenging are the procedural disagreements. Should Republicans forge ahead with one reconciliation bill, jamming together tax reform with Trump’s immigration and national security agenda? Two bills?
With so much emphasis on politics and procedure, the actual policy debate suffers. At the end of the day, if Congress doesn’t dedicate sufficient time to addressing the design of this tax legislation, it will be the American people who are left with the bill.
This is a preview of our full op-ed originally published in Barron’s.
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