The 2017 tax bill passed by the Republican Congress and signed by Donald Trump was pretty good. It really was a reform bill. For businesses, it lowered the tax rate from 35% to 21% and got rid of a lot of special interest deductions. That is the definition of a good tax bill: Broadening the base and lowering the rate.
The provisions for individuals weren’t as good, but there were good changes. The standard deduction was doubled, and deductions for state and local taxes were limited to $10,000. The result was a boon for lots of taxpayers: The increase in the standard deduction meant they didn’t have to worry about itemizing their deductions, making filing their tax return simpler and easier.
The one thing to remember about the 2017 bill is that it was the result of years and years of work by people like Representative and House Speaker Paul Ryan, Senator Pat Toomey, and many others. President Trump signed it, but it was a real Republican bill, not his bill.
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