1. The Original Trump Campaign Tax Plan is the Right One - by Stephen Moore via The Washington Post
Democrats attacking the Trump tax cut have primarily voiced two objections: first, that it is a tax cut for the rich. And second, that it will blow a hole in the deficit.
If Republicans get smart, they can squash both of these arguments — and strike a blow for a much more ambitious, once-in-a-generation tax reform than the plans now on the table in the House and Senate.
To do so, they should revisit an idea that was central to the original Trump campaign plan that Larry Kudlow and I helped to craft. In every meeting, Donald Trump told us he didn’t want a tax cut “for rich people like me.” So we solved this problem by putting a global cap of $150,000 on all deductions and credits. Read more here...
2. FCC's Fall Cleaning Will Enable Faster Broadband Growth - via Washington Examiner
Fall is the season when homeowners everywhere clear out the thick underbrush of leaves and twigs from their yards. When the process is done, the reward is a clean, attractive lawn.
Federal Communications Commission Chairman Ajit Pai has been busy this season doing something similar – taking an axe to unnecessary regulatory underbrush that has slowed the deployment of fast broadband around the country. Just recently, Chairman Pai put forward a detailed set of reforms in a proposed rulemaking; all are designed to remove roadblocks and bugs in the regulatory system that delay too many Americans from getting the fast broadband they need and want. Read more here...
3. Is Trump Restoring Separation of Powers? - via National Review
Our Constitution carefully separates the legislative, executive, and judicial powers into three separate branches of government: Congress enacts laws, which the president enforces and the courts review. However, when all of these powers are accumulated “in the same hands,” James Madison warned in Federalist No. 47, the government “may justly be pronounced the very definition of tyranny.”
The rise of the administrative state over the last century has pushed us closer and closer to the brink. Today, Congress enacts vague laws, the executive branch aggrandizes unbounded discretion, and the courts defer to those dictates. The Trump administration, however, is poised to disrupt this status quo. Read more here...
4. Why an Ex-Im Bank Opponent Should Run Ex-Im - via Washington Examiner
It's unthinkable to Democrats and reporters: That someone who opposed an agency as a congressman should run it as an executive-branch official.
I defended that arrangement in a recent blog post on many grounds a few weeks back, and now this specter has arisen again: Mick Mulvaney could run the Consumer Financial Protection Bureau, whose existence he opposed as a member of Congress.
Regarding Scott Garrett's nomination to head the Export-Import Bank, Vero de Rugy makes the case why such skeptics could be particularly good administrators. Read more here...
5. Here's How to Improve the Republican Tax Plan - via The Political Insider
The House GOP released their 2018 tax plan a few weeks ago, hoping to get it passed and sent on for a vote in the Senate by the end of November.
In regards to business taxes, the bill allows small businesses currently being taxed at an individual rate to be taxed at a 25% rate. But there’s a catch (via Axios): “The default option is for 30 percent of income to be deemed business income, while the other 70 percent would be taxed at the filer’s individual rate. The business income would be taxed at the 25 percent rate, while the rate for the individual income would be higher.
So obviously, there’s room for improvement, and the Heritage Foundation’s Daily Signal has a few ideas. Read more here...
Jason Pye
Vice President of Legislative Affairs, FreedomWorks
Vice President of Legislative Affairs, FreedomWorks
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