Interview: Congressman Sean Duffy on making tax cuts permanent
I sat down with Congressman Sean Duffy of Wisconsin, a key member of the House Financial Services Committee to discuss the efforts to make last year’s individual tax cuts permanent. Here’s what he said:
REP. DUFFY: So, in essence we were trying to put 10 pounds of tax reform into a 5 pound bag. And so, what we did is we made a lot of the tax cuts permanent, but some of them were temporary and the individual rates for temporary for 8 years. And it was done that way because we knew that Democrats and Republicans would come together and agree that we should make individual rates permanent.
And so that's the big drive right now, before November is to actually, extend those from eight years, make them permanent so the tax cuts that every family got, they last in perpetuity.
BORIS: Opponents are going to say that making those tax cuts permanent will drive the debt up. What do you say to them?
REP. DUFFY: Again, I love the argument that tax cuts are going to blow a hole in our deficit spending. If you look at what's happened to the federal coffers since the tax cuts, revenues haven't gone down, revenues have gone up and revenues have gone up because we're growing the pie. There's more economic activity. More people are working, which means more people are paying taxes.
Here’s the Bottom Line: the historic tax cuts passed by Congress and signed by President Trump late last year are a big reason why we’re experiencing an economic boom right now. Let’s hope that Congress can put policy over politics and make the individual tax cuts permanent.
EDITOR'S NOTE: Boris Epshteyn formerly served as a Senior Advisor to the Trump Campaign and served in the White House as Special Assistant to The President and Assistant Communications Director for Surrogate Operations