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Don’t Let The Tax Cuts and Jobs Act Expire: Lee Schalk on Voice of Reason

The Tax Cuts and Jobs Act of 2017 was a once in a generation tax reform package.

ALEC Vice President of Policy Lee Schalk spoke with host Andy Hooser of the Voice of Reason about the impact of tax cuts and government spending on middle- and working-class families. Schalk highlighted the risks of letting the 2017 Tax Cuts & Jobs Act expire and how state leaders expressed those concerns by delivering a letter signed by more than 350 state legislators from 43 states asking Congress to make the cuts permanent.

The Tax Cuts and Jobs Act of 2017 was a once in a generation tax reform package. It lowered the corporate tax rate from 35% to 21% and, of course, all the small business owners who pay through the personal income tax side received tax cuts as well. How can you plan for the upcoming year and how can you invest in your business or hire new employees? If you’re faced with this uncertainty and you’ve got the current resident of the White House saying that he’s eager and ready to let your taxes go through the roof.

More than two-thirds of Americans say federal income taxes are way too high. Any sort of major tax relief, along those lines, I think you’ll find a lot of big fans for that tax proposal.

Washington collected $4.4 trillion in tax revenues and that’s up over $2.7 trillion from a decade earlier. With a national debt of nearly $35 trillion dollars, it’s obvious that Washington doesn’t have a revenue problem, but a spending problem. It’s government spending that’s driving this awful inflationary environment that we find ourselves in.

Listen to the full interview.