It’s The Spending

What to Know: Some members of Congress want to make the individual tax cuts permanent – but aren’t saying much about spending.

“House Republicans advanced a measure to lock in last year’s tax cuts on individuals beyond their scheduled expiration date at the end of 2025, moving to build on their biggest legislative victory ahead of the midterm elections,” the Wall Street Journal reports. “The Ways and Means Committee voted 21-15 Thursday along party lines, after lawmakers debated whether last year’s tax cut has helped the country and considered the consequences of adding further to federal budget deficits.”

The TPPF Take: A permanent tax cut without spending restraint is bad policy.

“Spending is the true burden of government, not taxes,” says TPPF’s Vance Ginn. “This is why arguments that deficits don’t matter fails time and again. There’s a move to starve the beast but that’s impossible when there is constant sustenance from spending and debt.”

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