It was done intentionally so that they could bypass the filibuster in the senate since it wouldn't increase the deficit by more than 1.5 trillion based on estimates at that point over the next 10 years.
Also done under the assumption Trump would be a 1 term president so that they could blame the next Democratic President for raising your taxes.
Just this morning my cousin was bitching about taxes getting raised under Biden.
Addendum: A few folks have pointed out that this article was written about an earlier proposal and not the bill that was actually signed into law. This is the bill.
A noteworthy quote from said article:
"While most taxpayers will see a tax cut in 2018, many will end up seeing a tax increase by 2027 if the individual income tax cuts expire as scheduled."
Ghostlucho29 on November 9th, 2020 at 17:00 UTC »
I had teachers, teachers dawg, saying Biden was going to tax the hell out of them. I emailed all of them the Biden tax plan
ofchiai on November 9th, 2020 at 17:27 UTC »
It was done intentionally so that they could bypass the filibuster in the senate since it wouldn't increase the deficit by more than 1.5 trillion based on estimates at that point over the next 10 years.
Also done under the assumption Trump would be a 1 term president so that they could blame the next Democratic President for raising your taxes.
Diabeto41 on November 9th, 2020 at 17:39 UTC »
Here's a link supporting this tweet.
Just this morning my cousin was bitching about taxes getting raised under Biden.
Addendum: A few folks have pointed out that this article was written about an earlier proposal and not the bill that was actually signed into law. This is the bill.
A noteworthy quote from said article:
"While most taxpayers will see a tax cut in 2018, many will end up seeing a tax increase by 2027 if the individual income tax cuts expire as scheduled."