Nothing is ever permanent in Washington - what you meant to say is... sm Posted: Nov 26th, 2017 - 11:59 am In Reply to: Why is it that the proposed tax cuts...sm - VTMT
What you meant to say is "Why are the proposed tax cuts set to expire for individuals but not corporations?"
I can think of a few reasons:
1. They want to take credit for extending the cuts in 2024.
2. They want to blame Congress in 2024 for not extending the cuts and raising everyone's taxes.
3. If the cuts weren't set to expire, the CBO would have to calculate tax income loss for a much longer time. This would raise the "cost" of the legislation resulting in bad press.
4. There's probably some other law (which no one is talking about) that forces some kind of restriction on spending or legislation. The tax reform law is being written to accommodate those other laws.
5. One intended purpose of the law is to reduce the cost of doing business in the US. Permanently lowered corporate taxes will encourage companies to invest more resources. If the cuts were set to expire, companies choosing to invest/expand in the US would need to plan an "exit strategy."
How many reasons can you think of?
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