On Tuesday, Sen. Ted Cruz (R-TX) introduced legislation that would make the individual tax cuts from the GOP tax bill permanent. The cuts are currently set to lapse after 2025.
In a press release, Cruz stated: We’re seeing enormous benefits as a result of the historic tax cuts passed last year. The Texas economy is booming, and even on Tax Day, there is a renewed optimism and energy throughout the state. Texans are investing capital, expanding businesses, hiring new workers, and raising wages, and that economic growth is benefiting middle class families across the Lone Star State. But on tax reform, Congress is just getting started. There is much more we can do on behalf hardworking Americans, starting with passing my bill to make the individual tax cuts and other provisions permanent.
The reason the GOP tax bill placed an expiration date on the individual tax cuts was because it had to comply with the budget reconciliation process, including the “Byrd rule.” – READ MORE
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