Grover Norquist: Extremely Likely Republican Tax Reform Will Be Passed By Christmas Grover Norquist: Extremely Likely Republican Tax Reform Will Be Passed By Christmas – NTK Network

Grover Norquist: Extremely Likely Republican Tax Reform Will Be Passed By Christmas

“This is going to be a powerful, job-creating piece of legislation,” Norquist said about the Republican tax reform plan.  

By NTK Staff | 11.29.2017 @9:00am
Grover Norquist: Extremely Likely Republican Tax Reform Will Be Passed By Christmas

Grover Norquist, the President of Americans for Tax Reform, expressed optimism that Republicans would be able to pass tax reform legislation by Christmas during an exclusive interview with NTK Network.

Norquist told NTK that it was “extremely likely” that Congress would pass tax reform by Christmas, noting that “the House and Senate bills are very similar.”

The tax-reduction activist cautioned that the only potential obstacle for the Senate bill getting through the House is that it does not include a $10,000 deductible on state and local property taxes.

“That is the compromise that the House needed to get to 218,” the number of votes needed for a simple majority, Norquist explained. “So I don’t think that would disappear.”

Norquist said that the Republican tax reform plan also has “broad and deep support within the business community.”

The fact that the Senate bill includes a provision that could allow oil drilling in the Arctic National Wildlife Refuge means that Sen. Lisa Murkowski (R-AK) would likely support the bill, according to Norquist.

As for the bill’s effects, he explained that unemployed Americans and investors would be the biggest winners, and the biggest losers would be “incompetent governors and corrupt mayors.”

“The biggest winners are people who will get jobs who haven’t had jobs over the last eight years. This is a measure that will attract capital from around the world. It reduces the cost of new investment by giving you full business expensing,” Norquist told NTK.

Norquist then explained that cutting the corporate rate to 20 percent would “kick-start the American economy.”

“The people who invested in these new jobs and opportunities, they’ll do better off as well,” Norquist said.

“The biggest losers are incompetent governors and corrupt mayors, who will no longer have the full deductibility of state and local taxes and will no longer have a federal subsidy for their overly high income taxes and property taxes,” he said.

Norquist added that passing tax reform is a crucial step in creating an economic boom in 2018, and he praised President Trump for reducing the regulatory burden.

“President Trump has done some very import things in reducing the regulatory burden, in beginning to speed up permitting for pipelines and so on. Fifteen different deregulatory laws were passed – the Congressional Review Act Laws. This is saving billions of dollars for the economy and creating jobs,” Norquist said. “The ending of the constant threat of more regulations has also been central.”

“This is going to be a powerful job-creating piece of legislation,” he concluded.

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