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The Senate-passed tax bill is a policy triumph that will provide a shot of performance enhancing drugs into the veins of the economy. It’s not perfect, but the combined effect of cutting business tax rates, eliminating the state and local tax deduction, and repealing the ObamaCare individual mandate tax, means we are at the precipice of the biggest conservative policy victory since the Reagan years.
If Republicans were wise, the House would vote immediately to approve the Senate bill, and get it to President Trump’s desk for immediate signature before anything can go wrong. Think ObamaCare repeal fiasco.
But since they are insisting on a conference, there are still a number of ways to further improve the bill, grow the economy even faster, and counteract some of the liberal complaints against it.
Some of these reforms were in the original campaign tax plan that Larry Kudlow and I helped draft for then-candidate Donald Trump.