Published: Thu, September 13, 2018
Worldwide | By Myra Stephens

House GOP moves to lock in tax cuts

House GOP moves to lock in tax cuts

Trump approval saw an even bigger slump in CNN/SRSS's poll, hitting 36 percent, from 42 percent in August.

At 60 percent, most voters though the president did not "share voters' values".

With an eye toward November's midterm elections, House Republicans on Monday unveiled legislation to make permanent the individual tax cuts and pass-through business deductions that were set to expire in 2026 as part of the sweeping tax rewrite enacted late past year.

The news site said Trump thinks he can win that argument. "Republicans gave Congress nearly a full decade to extend these individual tax cuts before they expire", notes The Washington Post's Jeff Stein, "but the law's mediocre polling numbers and the hard election outlook for House Republicans have increased their sense of urgency".

"Passage is not automatic", he added.

And some Republicans from Democratic-leaning states worry that constituents already dislike December's cap on the federal deduction for state and local tax payments, known as SALT.

A dozen House Republicans opposed the Tax Cuts and Jobs Act last December. That outpaces President Donald Trump's approval rating on the matter by 20 points.

The legislation would permanently lower the tax rates for individuals as well as preserve a larger child tax credit and the approximately $22 million estate tax exemption for couples, which was doubled in the 2017 law. All but one were from high-tax Democratic states such as New York, New Jersey and California.

Carter alluded to arguments from self-identified progressives that Democrats will sacrifice votes on the left if they don't embrace the liberal base: "I don't think any Democrat is going to vote against a Democratic nominee", and he insisted that he's not asking the left to sacrifice its goals, only to see that winning elections is necessary to accomplish any of them.

Strong economic growth also doesn't seem to be winning over new voters for Trump, however.

While the law slashed the corporate tax rate permanently from 35 percent to 21 percent, its tax cuts for individuals and the millions of US "pass-through" businesses expire in eight years.

Democrats need to flip 23 seats in the 435-member House of Representatives to reclaim the majority, a goal several experts say is likely to be met. Another 28 percent say the economy is "not so good" or "poor". In the meantime, major media outlets continue to credit former president Barack Obama for the economy.

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