The time is now to make real reforms to our broken and dated tax code. I am committed to working in a bipartisan fashion in the House, with the White House, and partners in the Senate to find a consensus on tax reform. Today, we have released a framework of our objectives. Our goal is to create good paying, high-quality jobs while cutting taxes for the middle class. This can be done through incentivizing the manufacturing sector and small business growth, as well as lowering rates on businesses and investments. This path will ensure that hard-working folks of our region, and across America, have more money in their pockets. It is time we in DC think outside the box, no ideas are off the table. We need to make substantial reforms so that we have a simple, fair, and competitive tax code.–Tom Reed, facebook, Sept. 27, 2017
Perry Bacon Jr., writing for FiveThirtyEight, discusses tax reform. Bacon raises three questions:
- How much does increasing the deficit matter?
- Is it temporary tax cuts or permanent tax reform?
- Who gets the cuts?
Bacon writes that these questions divide the Republican factions. Bacon’s essay is well worth reading.
Tom Reed has long been a deficit hawk as the above illustration reminds us. He is also a Republican stalwart, supporting House misleaders without fail. Here are some additional questions that come to mind?
- Will Tom Reed support a budget that increases the deficit? If so will he abandon his long-held concerns or dispute projected deficits?
- Will Tom Reed agree to temporary tax cuts or will he demand permanent reforms? Bacon explains how this matters.
- Will Tom Reed continue to support tax reform which mostly benefits the wealthy? If so, will his constituents be seriously offended?
- Will Republicans rely on voodoo economics–tax cuts predicted to increase revenue–to justify their reform plan?
- Will Republicans seek compromise with Democrats, try to woo a few Democrats, or blow off Democrat’s as they did with health care?
- Will Republican deficit hawks demand spending cuts to accompany tax reform?
If the GOP decides on temporary tax cuts instead of comprehensive reforms as Bacon suggests some favor, one can bet they will later demand that the cuts be made permanent–we have experienced that before.