It’s not too soon to think about what the Democrats might do about the Republican tax cuts if they eventually win back power, maybe as early as 2020.
President Donald Trump thinks he knows the answer. He told voters at a rally in Charlotte, North Carolina, that their gains from the cuts would be in jeopardy if the Democrats had their way. They “will try to erase every single thing that we’ve achieved,” he warned.
Is he right?
Recently, I’ve been writing about the impact of the tax cuts. First, I argued that Democrats were missing the point by focusing on how the reductions affected the federal budget. Then, I explored the popularity (or lack thereof) of the cuts, noting that most Americans view them as a giveaway to the rich, even as the average taxpayer will benefit, at least a little, from them.
In this column, let’s look at the Democrats’ options should they manage to win control of Congress and the White House in two years. Why wouldn’t they just scrap the Tax Cuts and Jobs Act?
After all, the legislation passed without a single Democratic vote in the House or the Senate. Only 8 percent of Democratic voters support the cuts. Overall, just 46 percentof the population approves.