On Monday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Rep. Beth Van Duyne (R-TX) said that tax cuts should be in the first reconciliation package the new Republican Congress passes to give businesses certainty and also stated that there may only be one reconciliation package.
Heritage Foundation Research Fellow EJ Antoni asked, “[A]lthough the Trump tax cut was incredibly effective, one of the things, I think, that reduced its effectiveness was the incredible delay in actually getting it done, getting it across the finish line the first time around. Do you anticipate that the speaker’s actually going to be able to get it done and get it done early so that we don’t have a delay and so that we don’t have those tremendous lags in terms of economic activity where people, essentially, are pausing, whether it’s investment, consumption, whatever the case may be, waiting to see if you’re going to be able to get that tax cut across the finish line?”
Van Duyne responded, “Businesses definitely can work with the rules if they know what they are and they’re not constantly changing. They need consistency. And, again, I think that’s important. That’s why — that’s the benefit of having the tax package in the first reconciliation bill, the only reconciliation bill that we may be able to pass. I think it’s important that businesses know that. As a result of the TCJA, we saw so much investment, we saw so much economic growth, we saw so many companies bringing back their manufacturing to our land as opposed to in foreign countries and we saw them investing in their employees, we saw them investing in the future of the business. I think those tax cuts, that tax plan will be necessary for the economic growth of our future, and I intend on working in Ways and Means and I’m working with the rest of our conference to make sure that we’re able to bring that over the finish line.”
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