Richard Rubin
speaker
1,496 appearances
29 recordings
1 series
first heard Oct 2017
last heard Jan 2024
Richard Rubin’s voice in public audio — every appearance, attributed to the second.
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So it's really hard to imagine the kinds of wholesale changes that Democrats have talked about actually turning into law with the president still there and with the likelihood at this point, as we speak now before the election, of having a Republican Senate still.
Yeah, look, when Democrats...
complain about the tax law.
They have a whole litany of concerns that they have.
But there's certainly things in there that Democrats wanted to do to increase the child tax credit, to change the way that international businesses are taxed, to lower the corporate tax rate, even maybe not as far as Republicans did all the way to 21 percent.
But Democrats were talking along those lines, too, under the Obama administration.
So don't expect Democrats to
come in for the most part and just say, let's just repeal the tax law that passed.
First of all, it's not going to happen.
And second of all, they like some of the things that are in there.
So we've got a couple of provisions, a bunch of provisions that actually expired at the end of 2017.
We've got the expanded deduction for medical expenses that expires at the end of this year.
We've got breaks for alcohol producers and for family leave that expire at the end of 2019.
And all those are sort of forcing events.
So that sort of basically creates a situation where there might be a tax bill for lawmakers to consider.
And when that happens, whoever's in power will have the ability to shape that somewhat.
And so you might see Democrats piggyback on that and say, well, OK, if we're going to extend some of these things that Republicans created in the tax law,
In 2017, then maybe there should be expansions in tax breaks for affordable housing or tax breaks for investment in low-income communities or tax breaks for children or any number of things that you can imagine that the Democrats have talked about.
Yeah, let's think about it this way.
If the Democrats get the majority in the House, it will be in part because of suburban districts in blue states, in New Jersey, New York, California, Illinois, Minnesota, in places that have relatively high taxes compared to the rest of the country and where that $10,000 cap really matters.
Showing 1401–1420 of 1,496 · page 71 of 75
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