Bernie Marcus: "GOP should unite for legacy tax-reform vote"
“It’s time for Republican senators to put petty and political differences aside to come together over tax cuts for hardworking Americans.”
GOP should unite for legacy tax-reform vote
By Bernie Marcus
November 28, 2017
Delivering long-overdue relief from overtaxation so that small businesses can become big ones and so hardworking families can keep a little more of what they earn is a legacy for which every U.S. senator should be remembered.
Focus on the bill, not the shills. Look at how the doubling of the zero tax rate, the doubling of the child tax credit and the elimination of the 15 percent tax bracket in favor of an expanded 12 percent bracket would save middle-class taxpayers thousands of dollars a year.
And look at how the new 17.4 percent deduction for all businesses earning less than $500,000 annually, and for all nonprofessional service businesses above that threshold, will bring much needed tax relief to the overwhelming majority of the nation’s small-business job creators who have been largely passed over by the economic recovery.
Tax cuts are more than just a Christmas gift to Americans. They are the gift that keeps on giving, reverberating in so many positive ways that they’re impossible to quantify.
For some senators, a vote for the tax cut bill will be something they can take back to voters during election season, pointing out how their vote delivered their constituents the equivalent of gas money or utility bills for a year.
That’s a huge relief for the four-fifths of working Americans who live paycheck-to-paycheck, or for the half of Americans who can’t cover an unexpected $400 expense, like a medical bill or car repair.
For many senators, this will be a legacy-cementing vote for which they will be remembered and thanked long after they’re gone.
With the House tax bill passed, the real fight begins in the Senate this week. It’s time for Republican senators to put petty and political differences aside to come together over tax cuts for hardworking Americans.