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5 obstacles Republicans will face on the road to tax cuts

13 0
21.11.2024

Republicans are facing some tough decisions regarding their desired tax cuts as one of their top legislative priorities, some of which have dogged the conference for years.

While there is broad GOP support for renewing key parts of President-elect Trump's 2017 Tax Cuts and Jobs Act, there are divides over other details.

Disagreements over the state and local tax (SALT) deduction cap, the child tax credit (CTC), and the extent to which Republicans want to do away with green energy subsidies passed by Democrats are all bubbling beneath the surface of single-party control.

Disputes over individual provisions are likely to be compounded by bigger-picture dynamics within the party, such as the degree to which Republicans feel loyal to Trump after he delivered a big win over Democrats in the general election.

“There are so many different factions that Mike Johnson and Trump are going to have to round up that getting consensus on something as big as extending the Tax Cuts and Jobs Act … is going to make it really complicated,” Howard Gleckman, a senior fellow at the Urban-Brookings Tax Policy Center, a left-leaning think tank, told The Hill.

Here's a look at five different points of contention within the party that could muddle the path to a second round of Trump tax cuts.

Trump vs. Congress on additional tax cuts

Congressional Republicans have had their eye on an extension of the Trump tax cuts since they were passed in 2017. From a Republican policy perspective, they were only made temporary in the first place so that they wouldn’t add more to the deficit than the $1.5 trillion that Republicans agreed to in that year.

But Trump made a host of additional tax cut promises on the campaign trail, including canceling........

© The Hill


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