Maria Bartiromo interviewed Representative Kevin Brady (R-TX) to get clarity on further tax cuts that President Trump hinted at last week while on the campaign trail. His critics were quick to point out that his desire to get them done before the midterm elections was impossible with Capitol Hill out of session.
Brady said what the President was referring to was the three-bill package already passed in the House that made the tax cuts permanent, as well as a pledge to be signed by Republican Representatives and Senators that they will be pushing “tax reform 2.0” in the next month or so.
The bills in the House will still need to go through reconciliation, but it appears to be popular enough to sail through. Even 44 Democrats voted for it.
According to Brady, the President and the GOP aren’t done with tax cuts.
“The President wants to go even farther. He’s really focused on the middle class,” Brady said. “He just believes they’re the ones who get squeezed the most.”
Brady highlighted the 3% economic growth the Republicans achieved this year, noting that President Obama never saw such growth. He also noted a jobs market that went from people asking where the jobs are two years ago to employers asking where the workers are now.
Bartiromo asked about the trillion-dollar deficit that’s projected next year. Brady deflected, saying the tax cuts aren’t the problem. Spending is the problem. He’s right, but that doesn’t mean anyone, Republicans or Democrats, will do anything about it.
More tax cuts are needed. That can only happen if spending is chopped with axes and chainsaws rather than scalpels and scissors. Depending on the results of the midterm elections, we hope to see spending brought under control for the first time in decades.