Congressional speed can be a double-edged sword, as demonstrated by the House Ways and Means Committee’s swift push for The Tax Relief for American Families and Workers Act. Despite its branding as a package of middle-class tax cuts and pro-growth reforms, a closer look reveals a mix of elements, including welfare expansions, corporate advantages, and inflationary deficits. The bill’s primary individual tax cut is a modest adjustment to the child tax credit, leaving 91.5% of the touted “middle-class tax relief” as an expansion of welfare benefits. The complex nature of such legislation underscores the need for thorough examination and public awareness.
A Tax Policy Trojan Horse for Welfare Expansion and Inflationary Deficits (Daily Signal)
If you think congressional deadlocks are concerning, just wait until you see what Congress does when it’s in a blinding rush. The House Ways and Means Committee is ready to go from… t.co/xYIb6Xp6Dr
— FXHedge (@Fxhedgers) January 29, 2024
