Tax 2.0 Likely to Cause ‘Political Pain’ for Republicans: Group

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By Allyson Versprille

A GOP push to enact a second round of tax cuts “is far more likely to cause further political pain to Republicans” rather than be a boon for the party in the upcoming mid-term elections, according to a left-leaning group.

In a July 24 memo, the liberal coalition Not One Penny contended that Democrats “are extremely well positioned” to win a messaging war on a tax cut 2.0 package and urged policymakers to focus on arguments centered on the ways such a move would benefit the wealthy and jeopardize federal programs like Social Security, Medicare, and Medicaid.

House Ways and Means Committee Chairman Kevin Brady (R-Texas) plans to unveil an outline of the 2.0 package to House Republicans later today. The legislation will aim to make the individual tax provisions in the 2017 tax act (Pub. L. No. 115-97) permanent. These include measures affecting pass-through businesses—companies that flow their income and tax liabilities to their owners, who pay the tax on their own returns.

The package is also expected to address technical corrections to the 2017 act, and include measures on retirement and innovation.

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