Excerpt
May 20, 2025, Opinion: "There was much to dislike in the package of large and regressive tax cuts advanced by President Trump in his first term, but I’ll give it this: By expanding the standard deduction, it simplified the process of figuring out what you owe, and by cutting the corporate rate, it made American businesses more competitive. But why stand on precedent? The latest effort, which I can think of only as tax deform, is a tremendously expensive effort to make the tax code less efficient, less fair and more complicated. Instead of taking this misguided approach, Congress should make permanent the best aspects of that 2017 law — including a larger standard deduction, increased child tax credit and limits on the deductions for mortgages and state and local taxes — and eschew unaffordable rate reductions and new complications to the tax code."