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House Ways and Means hearing spotlights partisan split over making 2017 tax law permanent
Summary
The House Ways and Means Committee opened its new session with a marathon hearing on whether to make provisions of the Tax Cuts and Jobs Act of 2017 permanent, centering the debate on economic growth, distributional impact and how to pay for any extension.
The House Ways and Means Committee opened its new session with a marathon hearing on proposals to make provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) permanent, centering the debate on economic growth, distributional impact and how to pay for any extension.
Chairman Smith said the core argument for permanence is certainty. “If we want to continue President Trump’s legacy of a strong economy, Congress must act swiftly to make the tax cuts permanent,” he told the panel and witnesses. Supporters including small-business witnesses and Republican members argued that permanence would prevent higher marginal rates and restore predictability for hiring and investment decisions.
Opponents from the…
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