Kate Davidson
speaker
334 appearances
5 recordings
1 series
first heard Dec 2017
last heard Jun 2021
Kate Davidson’s voice in public audio — every appearance, attributed to the second.
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Appearances
Well, that's a little bit unclear.
I think that it's sort of widely recognized that the plan is unlikely to gain any traction in Congress.
So what the administration is doing, the president and his economic advisors are, I think, looking at and exploring possible alternatives to the extent that this is part of a broader package to look at tax cuts, tax cuts 2.0, as they're sometimes referred to, that sort of a post-election approach.
proposal, but it is possible for the administration to take action unilaterally on their own.
So I think the meeting today is to explore how they might do that.
They could, but there's sort of one big thing standing in their way.
And so we're kind of waiting to find out the extent to which this topic is explored at the meeting.
And that is this opinion.
It's a 1992 opinion from the Justice Department's Office of Legal Counsel that basically concludes that the Treasury Department lacks the authority to do just that.
to move on their own so we know that the Treasury is essentially you know they've acknowledged that that this opinion kind of prevents them from acting and we've heard that you know that there there could be you know one one course of action they could take is ask the Justice Department to review the opinion and reconsider it so that might be happening
But we also know that the Treasury Secretary Mnuchin is really not all that keen on this policy idea.
So it's kind of waiting to see which side wins out on the argument for actually going ahead with this proposal.
That's right.
He was actually the attorney general at the time that that earlier opinion was issued.
So a little bit unclear what factor that could play in the likelihood of whether this decision gets revised.
You know, there's an estimate from the Penn Wharton budget model that says that most of the benefits are going, you know, would go to high-income households for this sort of change.
I mean, it would reduce taxes by about $100 billion over a decade.
So a pretty significant effect on government revenues there.
I think that's part of it.
But I think that there's also political considerations here, too.
Showing 161–180 of 334 · page 9 of 17
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