Opinion by Catherine Rampell: We’re probably stuck with those expensive, unpopular Trump tax cuts for good, because neither party seems to have the political courage to let them lapse.
, no more than 1 in 10 residents saw their taxes rise as a result of the GOP law. So, if these individual-side tax provisions lapse, a whole lot of Americans’ tax bills will rise — and whoever stands in the way of extending those provisions will inevitably get blamed for “raising taxes.” President Barack Obama learned this the hard way when he was in the White House and negotiating with Republicans over.
The White House has so far been noncommittal about its approach to the soon-to-expire Trump tax provisions. But Biden might have already boxed himself into keeping most of them in place.— that “nobody earning less than $400,000 a year will pay an additional penny in taxes.” If this “no new taxes” promise is supposed to mean no projected increases due to expiring tax breaks, most of the 2017 law gets extended.
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