Tax Cuts and Jobs Act of 2017 (TCJA)

The Tax Cuts and Jobs Act of 2017 (TCJA) is the unofficial name for the large set of changes to the Revenue Code of 1986, signed into law by President Trump in 2017. TCJA made many large changes across multiple areas of the tax code, including most infamously reducing the corporate tax rate, increasing the standard deduction, and increasing the applicable exclusion amounts for estate taxes. Only some of the TCJA changes were permanent, and over twenty provisions will expire by the end of 2025.

For individual tax deductions, the TCJA reduced some of the overall tax rates and changed many deductions. [….] All of these changes will revert back to their pre-TCJA provisions after 2025. [….]

…the corporate tax rate was permanently reduced to a 21% flat tax rate from 35%. [….]

Corporations got permanent tax cuts, proles didn’t.

Yesterday:

Rep. Jason Smith @RepJasonSmith
The American people are demanding fiscal responsibility.

Republicans have called on Democrats to come to the table. Lets address the fiscal insanity. Lets try to find common ground. It’s the responsible thing to do.
[….]
3:50 PM · Jan 31, 2023

You ran up the bill, Jason (r). Now you don’t want to pay for it.

Roll Call 699 | Bill Number: H. R. 1
DEC 20, 2017, 12:55 PM | 115TH CONGRESS, 1ST SESSION
Vote Question: On Motion to Concur in the Senate Amendment
Tax Cuts and Jobs Act
Vote Type: Yea-And-Nay
Status: Passed

Clay Democratic Missouri NAY
Cleaver Democratic Missouri NAY
Graves (MO) Republican Missouri YEA
Hartzler Republican Missouri YEA
Long Republican Missouri YEA
Luetkemeyer Republican Missouri YEA
Smith (MO) Republican Missouri YEA
Wagner Republican Missouri YEA

[emphasis added]

Own it.

Some of the reponses:

YOU are the ones who created this.

Stop gaslighting vulnerable people.

Tax the rich and corporations.

Honor the government commitments & responsibilities.

See above.

25% of the national debt was accrued under Trump [….]

Yep.

Jason, you don’t know what your constituents are demanding.. It’s not like you answer emails, phone calls, or have town halls. So try that again. this time be honest about it.

What about your own district, Jason? What have you done for anyone in MO8 except yourself? We have the poorest district in one of the poorest states!

How about all your PPP loans you didn’t pay back??

Right – tax the rich again. Debt ceiling has nothing to do with it

Check out his vote.

The American people understand the debt ceiling is honoring the debts we’ve already incurred.Tell Qevin to stop playing games.And do SOMETHING for your constituents instead of whining, Jason.

Since when the hell do REPUBLICANS ever listen to the American people, huh??

National budgets are not household budgets. With great investment comes great advancement and returns. Just tax the rich.

Suck it, Insurrectionist. The GOP betrayed America.

The American people are demanding you stop showboating and raise the debt ceiling before you screw us and crater the economy.

We all know it’s Republicans doing this.

Here’s a hint: a universal 30% consumption tax ain’t gonna cut it in your district, Jason (r).