A tax bill worth passing: Shaheen's objections notwithstandingEDITORIAL
December 14. 2017 12:55AM
New Hampshire Sen. Jeanne Shaheen makes her case today against the Republican tax bill.
While we agree with some of her objections, the bill is still an improvement on America’s horrible tax code, and deserves to pass.
Shaheen is right about the messy process Republicans used to get this bill to a conference committee. She is right that it would likely increase the deficit.
Shaheen is perhaps not the best messenger on these points, having crammed Obamacare down our throats while gleefully helping to increase our national debt to $20 trillion. But her argument has merit.
She is wrong to claim that the bill would not benefit middle-class taxpayers. As Guy Benson has detailed at TownHall.com over the past month, the GOP tax bill would lower the tax burden of every income group over the next decade.
Shaheen focuses on 2027, when some of the GOP tax cuts expire, to claim the bill would increase taxes on the middle class. This is an artifact of Senate budget rules. Congress would have 10 years to make sure taxes stay low, as it did with the Bush tax cuts last decade.
Lowering the corporate tax rate would be a boon to the economy, and provide a huge incentive for American corporations to bring overseas profits home.
Repealing the Obamacare individual mandate would also greatly benefit low-income taxpayers, undoing some of the damage Shaheen inflicted on them.