Not that we needed a better reason to overhaul the tax code, but on Saturday, President Trump said he will push congress work harder on getting tax reform passed sooner rather than later. Part of the push is in response to questions of how we can help states like Texas and Florida bounce back from two major destructive hurricanes.
As Reuters reports:
U.S. President Donald Trump said on Saturday that he will ask the Republican-controlled Congress to further speed up its efforts to overhaul the U.S. tax code, citing the potential impact of Hurricane Irma as a reason to hasten reforms.
“I think now with what’s happened with the hurricane, I’m going to ask for a speedup. I wanted a speedup anyway, but now we need it even more so,” the president said at the outset of a Cabinet meeting at Camp David. The White House released a video of his remarks.
Trump urged Congress in a Friday tweet not to wait until the end of September for tax legislation.
Disaster relief packages, such as the $15 billion allocated for victims of Hurricane Harvey, can do a lot for individuals trying to rebuild a home and get back on their feet. However, lowering the tax rate and simplifying the tax code is like a shot in the arm to everyone up and down the chain. It is exactly the type of response we need right now to prime the economy and bring back the lost revenue to businesses and families in Texas and Florida.
The President’s instincts are correct. Very often during natural disasters, we see the worst of partisan hacks come out to push their pet project or advance the lie of climate change. The President is very clearly focused on recovery and rebuilding, and it’s a nice thing to see.