GOP lawmakers prioritize politics over economic growth
House Republicans on the 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.
-writing committee this week advanced a bill that would stave off a tax hike for most Americans. In crafting the legislation, the Committee partially caved to the demands of the White House and the SALT Caucus, sending to the floor a bill that forgoes simplicity, falls short of true fiscal responsibility, and leaves sustained economic growth in the dust.
Tax reform, in any Congress under any timeline, is hard. And while it is commendable that Chairman Jason Smith has crafted a plan that fits within the reconciliation revenue instructions and keeps taxpayers with fuller pockets, this bill prioritizes politics over economic growth.
The tradeoff, I fear, won’t be worth it.
This is a preview of our full op-ed originally published in Market Watch.
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