Extending 2017 Tax Cuts Now

Originally Published on 6/6/24

Republicans in Congress are preparing a push to fast-track extension of the 2017 tax cuts via the budget reconciliation process if they win a majority position in November. Reconciliation is the same process that the GOP used to push the original tax reform package through in 2017. By using the budget reconciliation process, Congress can pass legislation through with a simple majority, while typical legislation requires the support of at least 60 senators to avoid a filibuster. Democrats have also used the process to pass the Affordable Care Act and the Inflation Reduction Act.

We asked two professors and authors of ALM’s Tax Facts with opposing political viewpoints to share their opinions about recent calls by the GOP to extend the 2017 tax cuts via reconciliation this year, rather than waiting until 2025 when they expire.

Below is a summary of the debate that ensued between the two professors.