A Revenue 'Trigger' Would Shoot Down Tax Cuts If Economy Doesn't Grow As Expected
Republican lawmakers are considering a federal budget "trigger" that would raise taxes if proposed tax cuts don't deliver the economic growth they have promised.
But the proposal is generating a lot of pushback from critics, especially conservatives.
The so-called trigger mechanism would be a legislative provision to rescind corporate tax cuts by as much as $350 billion if revenue targets are not met, Bloomberg News reports.
Congressional Republicans have said they expect the tax cuts to unleash a wave of economic growth, which will boost tax revenues and keep the budget deficit from increasing.
The trigger would kick in if that doesn't happen as promised.
https://www.npr.org/2017/11/29/567278766/congress-considers-a-tax-revenue-trigger-to-shoot-down-budget-deficits
Iliyah
(25,111 posts)The measure in name only. This whole tax reform is a scam.
Fullduplexxx
(7,822 posts)bronxiteforever
(9,287 posts)For the sick and the vulnerable. Nothing will stand in the way of their feeding their dark dark soul on the blood of Americans.
GeorgeGist
(25,295 posts)Kashkakat v.2.0
(1,752 posts)on public assets and eliminate and/or privatize public services. Just look at how the austerity thing has played out in other countries around the world these past few decades. I remember reading "the Shock Doctrine" a few yrs ago and wondering if an dhow it would play out here - now I know.