Discussion on Extending Trump's 2017 Tax Cuts

SOURCE www.foxnews.com
Rep. Jeff Van Drew discusses importance of budget deal, House GOP leader pushing for extension of Trump's 2017 tax cuts, roundtable on preserving tax cuts through reconciliation, potential impact of not extending tax cuts on manufacturing jobs and GDP, call for action to make tax reforms permanent

Key Points

  • Importance of preserving 2017 tax cuts through reconciliation
  • Potential negative impact on manufacturing jobs and GDP if tax cuts are not extended
  • Call for action to make tax reforms permanent for economic growth

Pros

  • Potential for job creation, wage growth, and investment
  • Stability in tax policy fosters certainty and drives growth
  • Manufacturers' ability to invest in America and plan for the future

Cons

  • Possible largest tax hike in American history if key aspects of tax cuts related to manufacturing sunset
  • Risk of losing millions of jobs, wages, and GDP if tax reforms are not extended
  • Disincentives for investment in the U.S. and hindered competitiveness on the world stage