Cruz offers bill to cement individual tax cuts

Source: The Hill | January 8, 2018 | Naomi Jagoda

Sen. Ted Cruz (R-Texas) on Monday rolled out legislation to make permanent the new tax law’s cuts to the individual tax rates, and is furthering his campaign for Sen. Bernie Sanders (I-Vt.) to back the measure.

“I invite Senator Sanders and all of my Democratic colleagues to join me today and make tax rate cuts for hardworking middle class families permanent,” Cruz said in a news release.

The new tax law cuts tax rates across-the-board for individuals, but those cuts expire after 2025, while the cut to the corporate tax rate is permanent. The individual cuts were temporary in order to comply with budget rules that allowed Republicans to pass the measure in the Senate on a party-line vote.

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  •  Consistent #20831


    Sen. Cruz: Middle Class Families Deserve Permanent Tax Cuts

    Invites Democrats to join bill to make historic tax cuts on individuals permanent

    WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) introduced a bill to ensure the historic tax cuts on individuals are permanent.

    “These historic tax cuts are already benefiting our schoolteachers, firefighters, and truck drivers—people from all walks of life—by cutting rates for individual taxpayers in all brackets,” Sen. Cruz said. “By February, Americans in every tax bracket will see their taxes go down and their take home pay go up. In a nationally televised interview on CNN’s State of the Union, Senator Bernie Sanders agreed that the middle class tax cuts in the Tax Cuts and Jobs Act were a ‘very good thing,’ adding, ‘That’s why we should’ve made the tax breaks for the middle class permanent.’ Well, I invite Senator Sanders and all of my Democratic colleagues to join me today and make tax rate cuts for hardworking middle class families permanent.”

    The full text of the bill may be viewed here.

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     EVERYDAY #20833

    Probably won’t pass since it’s Cruz’s idea and it makes sense.

    There are a couple of things that should be permanent — the medical deduction, for example. Rolled back to 7.5%, but only for 2 years. Why? Either you’re cutting it back or you’re not. Stupid.

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