GOP test: Expiring tax cuts would mean little bang for buck
Friday, 10 November 2017 () WASHINGTON (AP) — Senate Republicans have run into a problem with their proposed tax cuts: Under Senate rules, the cuts would expire after 10 years. Problem is, most economists say temporary tax cuts would swell the national debt while doing little for economic growth. And without faster growth, few individuals would stand to benefit from the pay raises and job gains being promised by President Donald Trump and Republican congressional leaders. "We have identified this consistently as one of the fundamental principles of tax reform," said Jared Walczak, a senior policy analyst at the conservative Tax Foundation. "Any time you build in a sunset, you're encouraging businesses to not make the long-term investments.
House Republicans on Thursday unveiled a tax cut plan that slashes the corporate tax rate, lowers taxes for most Americans but limits a cherished deduction for homeowners as President Donald Trump and the GOP seek to deliver on the first tax revamp i
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