Trump's Tax Proposal Reverses GOP Goals

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Washington Examiner

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Trump tax plan is shift from decadeslong GOP quest to broaden base - Washington Examiner

Summary

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66% Informative

Former President Donald Trump 's new tax proposals are a policy reversal from the long-sought Republican goal of broadening the tax base.

Broadening the base has been a goal of Republicans since the Reagan -era tax reform effort.

Trump announced earlier this month that he intends to make interest paid on car loans fully deductible and exempting Social Security income from taxes.

Trump 's proposals target groups that are critical voting blocs in the elections.

Fully restoring the deduction on state and local taxes would evaporate $1 trillion in tax revenue over the next decade .

Moore said the main tax policy objective for Republicans entering a new Congress is to make the 2017 tax cuts permanent.

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English

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