GOP pushes for ‘phase two’ of tax cuts
Republicans are increasingly talking about “phase two” of tax cuts, including a permanent extension of the new law’s individual tax cuts.
While Republicans could struggle to pass another tax bill this year, conservatives said that an effort to cement the new individual rates would be both smart policy and smart politics.
“I am 100 percent behind that and would support it and even help promote it,” said Rep. Mark Walker (R-N.C.), chairman of the conservative Republican Study Committee.
President Trump and some key lawmakers have made comments in recent weeks about pursuing additional tax cuts following the enactment of the GOP’s tax-overhaul bill last year.
“We’re actually going for a phase two, which will help in addition to the middle class, will help companies, and it’s going to be something I think very special,” Trump said at an event in Missouri on Wednesday.
It’s unclear what the exact contents or timing of another tax package would be, but lawmakers and administration officials have signaled that it would likely include a permanent extension of the new tax law’s cuts for individuals.