While the 2017 tax legislation has been a striking success, Republicans should avoid making the income tax cuts permanent unless they first enact offsetting spending cuts.
Don’t get me wrong, I recognize the huge economic benefits that President Trump’s 2017 tax reform package has proffered. The economy is generating record investment, record low unemployment rates, and now, wage rises. Republicans should be pushing for further corporate tax code simplifications and corporate rate cuts down to 5 percent. Yet just because one tax cut is a good idea, that doesn’t mean all tax cuts are a good idea. That brings us back to the new Republican effort to make the most recent income tax cuts permanent. Because absent spending cut offsets, that action cannot be justified. It would betray young Americans in particular by blowing up the national debt.
