What is the most crucial question we should be asking ourselves about tax reform as we watch events unfold in Washington? To me, it’s this: Are we going to start seeing compromises—not from Democrats but from Republicans—for the sake of winning?
It’s pretty obvious that Republicans desperately need to score a legislative victory before the end of the year. They have just 30 business days left to do something. This week, House Speaker Paul Ryan said that Republicans need to stick together and “stay united.” I’m sure that was just a slip of the tongue and he meant “unite.”
Since the GOP can’t even agree on where to go for lunch, it seems increasingly unlikely that they’ll be able to get any legislation passed — unless, of course, it’s watered down to appease a Democratic agenda. No one is better at embracing false narratives than Republicans.
I believe it will be complex to pass tax reform that maximizes the positive impact on our economy without reducing taxes for those who pay 70 percent of the nation’s federal taxes.
I don’t know if I would consider that a hindrance to doing tax reform quickly. But it does seem like if the goal is to try something that hasn’t been done in 30 years—something that’s incredibly complicated—we should maximize the impact that it has on the economy.
President Trump needs to sell this plan demanding to the American people. He can simply point to the results of the Ronald Reagan and John F. Kennedy tax cuts to lend credibility to the idea that the benefits will reach all classes.
The simpler tax code alone will be a huge benefit to Americans of all income brackets. It will certainly have a long-term impact on economic growth. So if they are not desperate to see this president fail, how can Republicans logically be divided on tax reform?
Ohio State Representative Jim Jordan has come up with a very plain way to unite Democrats and Republicans that would be incredibly pioneering and a great idea to solve this problem. Jordan suggested developing an app that is plain and anyone can download. You just plug your numbers into the app and it gives you an idea of how much money you could save.
Of course, that would stop Democrats from lying to the American people that tax cuts “only benefit the rich.” Democrats will have no choice but to quickly choose a strategy that does not rely on painting the picture that this plan will not aid the middle class. Republicans will have to support it, too. Unfortunately, this plan is probably too plain for anyone in Washington to accept. So we need President Trump to continue to get it across to the people.
We still have a Senate that desperately needs a win and, as I mentioned earlier, only has 30 “working” days to get it. During the debate over repealing and replacing health care, I’ve written several times about the benefits of Donald Trump delivering it to the American people. That’s exactly what he needs to do on tax reform.
The reduction in federal regulatory burdens has already acted as a tax cut and helped boost the economy—and the stock market. But that’s just the beginning. The effects on corporate bottom lines and profits will be enormous if we can get tax reform done. The simplification of the tax code and the reduction in taxes will be monumental.
Additionally, building infrastructure, strengthening the dollar, making fair trade deals, increasing consumer confidence, increasing business investment, improving business sentiment, repatriating profits overseas and creating a less intrusive government will provide additional stimulus.
If we take these steps, we will see growth in our economy today and for generations to come like never before imagined. America will truly be great again—a sturdy economic power, with unprecedented support from our allies around the world.
Tell your representatives that we do not need compromise or a watered-down tax reform plan for a political win. We need a win for the American people!
