The arrival of President Trump’s ambitious tax reform bill is a moment sure to mark the history books. It’s all set to become the largest tax cut in American history, promising to bring much-needed relief to the wallets of everyday Americans. This is undoubtedly a stupendous accomplishment for the president, reflecting yet another promise made and another promise kept. The holiday fireworks might just go off a little early this year if the bill passes by July 4th.
However, let’s not fool ourselves into thinking it’s pristine. Like any political hotdog, this tax bill has its fair share of less-than-appetizing ingredients, with elements some might find objectionable. Among its less savory provisions is the continuation of SALT deductions — tax breaks that, some argue, reward those high-tax blue states for their overzealous spending habits. But, alas, like they say, legislative compromise is often akin to the messy art of sausage-making.
In brighter news, this bill extends several key features from Trump’s 2017 tax cut plan, including incredibly advantageous reductions such as the elimination of taxes on tips and overtime. There’s a little something for the working man. Not only does it trim taxes on Social Security, but also takes aim at dubious practices within Medicaid, establishing work requirements for able-bodied beneficiaries. And it’s doing all this while managing to stay deficit-neutral. It’s a bill that’s chock-full of blessings for working-class Americans.
While Democrats fret and flounder, claiming it’s the harbinger of doom, this bill seems to prove otherwise. It doesn’t dare touch Medicaid, SNAP, or Social Security benefits, as some naysayers would have you believe. Instead, it can potentially beauty the national budget by a neat decrease of $2 trillion. The proof is in the pudding, as history has shown that tax cuts, like those during Reagan’s era, often lead to economic stimulation and job creation, letting the hard-earned money of Americans grow within their communities.
And, as if that wasn’t enough, this legislation charts a bold path forward for energy independence and riches akin to Scrooge McDuck’s coin pool. Draconian Biden era regulations are set to dissipate, paving the way for America’s energy dominance. It seems the Democrats are more captivated by their radical crusade than by the benefits to their constituents, who make this nation tick. For a party professing to champion the working class, it’s a bit of a puzzler that they’d oppose a bill feeding directly into the prosperity of the very people they claim to represent.
