Two changes to tax reform that could lead to a blockbuster win for all Americans
Over the past ten months, the Republican party has held the White House and both chambers of Congress and, have time and time again, failed to make good on their promises. If the GOP wants to prove to the American people that they are fit to remain in control of Washington, they need to deliver big on campaign promises by making two simple changes to tax reform: Make tax cuts go into effect in 2018 and repeal ObamaCare’s despised individual mandate.
First, make the tax cuts go into effect in 2018. The Senate bill, which the Senate Finance Committee unveiled last week, delays the implementation of the corporate tax rate reduction to 20 percent until 2019.
But why wait until 2019 (after the 2018 elections, it is worth noting), when Americans are ready for economic growth today? Republicans have described the anticipated economic growth that is likely to result from the rate reduction, but the Senate is poised to forego that benefit for an additional year.
A second way to win with tax reform? Repeal ObamaCare’s much-despised individual mandate. The mandate, which requires all Americans to purchase government-approved health insurance, or else pay a “penalty” (a tax), is one of the least popular aspects of ObamaCare. It is also one of the biggest tax hikes in U.S. history.
Tax reform is not merely an avenue for repealing the mandate – it is the best avenue to do so. After all, the individual mandate was upheld by the Supreme Court only because of Chief Justice John Roberts’ sleight of hand that turned ObamaCare’s “penalty” for non-compliance with the individual mandate into a “tax.”
Americans deserve relief from ObamaCare, long over-due tax cuts, and economic growth. The GOP-controlled Congress has every opportunity to deliver on their campaign promises and it’s time that they put their mind to it and provide America with a major win!