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Two years in, Trump tax cuts face big test with reelection bid | TheHill

posted onDecember 23, 2019
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Article snippet: Two years after MORE signed his tax cut legislation into law, the measure has not become a runaway hit with the public, posing a potential challenge for his reelection bid as workers say they haven’t seen much of a benefit.  Democrats believe that their calls to roll back the 2017 law and raise taxes on the wealthy will resonate with voters and help them win back the White House next year. “We have to eliminate [a] significant number of these god-awful tax cuts that were given to the very wealthy,” former Vice President MORE said during Thursday’s Democratic presidential debate. But the Trump campaign and many Republicans think the tax law can be an asset for them at the ballot box in November. They argue the tax cuts have contributed to the health of the economy, and they are attacking Democrats for their calls to undo the law. “The undeniably strong and still-growing economy is an excellent argument for President Trump’s reelection and the tax cuts have fueled the growth,” Trump campaign spokesman Tim Murtaugh said in a statement. “Democrats and the media spent more than a year demonizing the package, but the positive results are apparent and enjoyed by all Americans.” Trump signed his signature tax law, known as the Tax Cuts and Jobs Act, in the Oval Office before a group of reporters on Dec. 22, 2017. The law slashed the corporate tax rate from 35 percent to 21 percent and lowered individual tax rates. The Urban-Brookings Tax Policy Center, which is led by a ... Link to the full article to read more

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