President Trump’ tax reform law is working, and according to Florida Congressman Vern Buchanan (R), the president wants to extend and expand the tax cuts to those outside of the “90% of Americans” that are already enjoying tax relief.
Buchanan, who believes that the law is “80% where it needs to be,” told The Floridian that during a White House trade meeting with Trump several weeks back, the president “turned and looked” at him and others and said he wanted to “talk about Tax 2.o.’ Trump ‘termed the concept 2.0.”
It what appears to be a strategic move to help Republicans in this fall’s mid-term elections, Buchanan said that the tax policy committee he chairs, is “actively working to produce somewhat of a product before August,” and hopes to get a bill for members to vote on “sometime in September.”
The focus of the committee will be to make the individual tax cuts “permanent long term” and to do more for small businesses (50 employees or less), start-ups, and those entrepreneurs who are looking to start up a small business.
“We are actively working to produce somewhat of a product before August, then maybe a bill that we can get sometime in September that we can get a vote on it. But there is a lot of good things that we are talking about. Some of the tax cuts that were put in place, by the way 90% of Americans are getting a tax cut despite what you hear. A lot of that is not permanent.”–Rep. Vern Buchanan (R)