Don’t let the Tax Cuts and Jobs Act expire: Lee Schalk at Voice of Reason – American Legislative Exchange Council

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

The Tax Cuts and Jobs Act of 2017 was a once-in-a-generation tax reform package. It cut the corporate tax rate from 35% to 21% and of course all small business owners who pay through income tax also received tax relief. How can you plan for the year ahead and how can you invest in your business or hire new employees? When you’re faced with this uncertainty and the current occupant of the White House says he’s eager and willing to raise your taxes.

…

More than two-thirds of Americans believe the federal income tax is far too high. I think you’ll find a lot of strong supporters for any kind of tax relief along those lines.

Washington took in $4.4 trillion in tax revenue, over $2.7 trillion more than a decade earlier. With a national debt of nearly $35 trillion, it’s obvious that Washington doesn’t have a revenue problem, it has a spending problem. It’s government spending that’s driving this terrible inflationary environment we’re in.

Listen to the full interview.