Colorado Politics

The Grand Junction Daily Sentinel: Let’s not confuse tax cuts with tax reform

House Ways and Means Committee Chairman Kevin Brady, R-Texas, released the Tax Cuts and Jobs Act on Thursday, the first version of “tax reform” to be put into legislation.

But is cutting taxes really tax reform? It’s a key question in the debate about overhauling the tax code, which is rife with political engineering to encourage or discourage economic behavior.

So while the House bill ostensibly offers a series of tax cuts and breaks aimed at helping most Americans, it doesn’t really simplify the tax code. Yes, it eliminates or scales back a lot of deductions, but it includes some gimmicky phase-ins and phase-outs of tax repeals and credits that make it difficult to predict the fiscal impact.

Read more at The Grand Junction Daily Sentinel.

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