Don’t Let the Loophole Lobby Decide the Tax Debate

Republicans have their hands full this year, with the individual provisions of the 2017 TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
Cuts and Jobs Act (TCJA) set to expire. If Congress fails to act, 62 percent of taxpayers will see a tax hike. But if Congress simply extends the law, upwards of $3.5 trillion will be added to our already unsustainable deficits.

As in any year where consequential legislation is at the forefront of Congress’s agenda, the DC lobbyists will be at work double time. Every group has its tax priority and is willing to sacrifice a stronger code for one that has its industry’s win. Though the 2017 reforms made strides to simplify our tax code, our tax laws are still — kindly put — a mess.

If Republicans want a successful year for tax reform, they must put aside the extensive demands for niche provisions and, instead, approach this debate with a principles-first mindset.