Episode 349: Can Republicans Actually Make the Trump Tax Cuts Permanent?

President Trump’s proposed Big Beautiful Bill (BBB), which has been getting everyone’s attention of late, is the topic of this episode of The Power of Zero Show.  Host David McKnight points out that the “crown jewel” of the BBB is the extension of the 2017 Trump tax cuts. The 2017 Tax Cuts and Jobs Act (TCGA) brought about cuts to individual income taxes, corporate taxes, and a dramatic expansion of the estate tax exemption. While corporate tax cuts were made permanent – going from 35% to 21% – the tax cuts for individuals and estates had an expiration date. If the status quo stays unchanged, those tax rates will revert back to their 2017 levels on January 1st, 2026. David goes over how Republicans could make the tax cuts permanents through some outside the box accounting techniques. Since Republicans don’t have a supermajority in the House or Senate, they would have to rely on a special Senate process known as Budget Reconciliation.  A few fiscal conservatives such as Representative T...