GOP considers letting tax cuts for families expire sooner
Source: The Washington Post
By Erica Werner and Damian Paletta December 14 at 1:03 PM
Congressional Republicans are looking at shortening the duration of tax cuts that their plan would give to families and individuals, a leading lawmaker said Thursday.
That change would free up more revenue for additional changes to their tax overhaul, but it could also heighten complaints that the bill prioritizes cuts for corporations over households.
Under a tax overhaul bill passed by the Senate earlier this month, tax cuts for all American households would expire at the end of 2025. But Republicans are now considering having those tax cuts expire in 2024.
“That’s one of the things we’re looking at,” Senate Finance Committee Chairman Orrin G. Hatch (R-Utah) said Thursday when asked about shortening the duration. “They’re looking at every possible thing they can to meet the revenue needs, as always at the end of the thing we’re looking at everything,” he said.
Read more: https://www.washingtonpost.com/business/economy/gop-consider-plan-to-make-individual-tax-cuts-expire-sooner-shrinking-plans-benefits-for-working-class/2017/12/14/9d83b1ac-e0f2-11e7-89e8-edec16379010_story.html
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