President Trump’s Tax Cuts and Jobs Act of 2017 is considered historic and much-needed taxpayer relief by Republicans, but Democrats call it a bailout or gift to corporate America.
Democratic congressional candidate Debbie Murcasel-Powell, who is challenging U.S. Rep. Carlos Curbelo (R) in Florida’s 26th district, is one of the many who believe that tax reform law Trump signed is nothing but a sham.
[email protected] & his Republican friends claimed that their massive tax handouts to corporations would trickle down to everyday people. But that’s clearly not the case. It’s time to vote the GOP out and start doing right by workers. #BlueWave #FL26 #LaborDay pic.twitter.com/FwQUPHKcK1
— Debbie Mucarsel-Powell (@DebbieforFL) September 3, 2018
Trump’s tax cuts appear to be working, for now.
What could be a saving grace for Republicans this election cycle is if new “Trump 2.0” tax cuts are introduced shortly before election day.
According to Rep. Vern Buchanan (R), President Trump new tax proposal should hit sometime before the November elections.
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.”
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. (Source)
“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)
If this new bill is proposed and voted on, Trump will surely sign it into law.
If all of this happens, Mucarsel-Powell and just about every other Democrat running to unseat a Republican, could have a very long election night.