re: Trump tax cuts scheduled to end in Dec 2025, the negotiations for extension.
The GOP House is thinking 4 years vs Senate 10 years extension. I would prefer keep Trump tax cuts for < $400k (Kamala's plan) but that won't fly. So, all things held equal, hope the House wins this one.
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Sources familiar with the early discussions between Senate and House Republicans say the House GOP is floating the idea of a four-year extension of the law so its impact on the federal deficit, as determined by the Joint Committee on Taxation, won’t give House conservatives sticker shock.
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A 10-year extension of Trump’s tax cuts would add more than $4 trillion, which might not sit well with fiscal hawks in the House who are alarmed over the size of the nation’s $36 trillion debt.
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A tax package with a smaller price tag would be easier to pass through the House and would require fewer offsets to placate conservatives worried about the political optics and fiscal implications of adding more than $4 trillion to the debt.
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