Hugh Hewitt tweets about an upcoming legislative scenario.
As President-elect Trump weighs in with endorsement of the one bill approach, a @WSJ report notes “Going with one bill isn’t risk-free, however. Instead of being too big to fail, one large bill could become too big to succeed.”
— Hugh Hewitt (@hughhewitt) January 5, 2025
Democrats and legacy media hope that the GOP go…
The following is Hewitt's tweet in its entirety.
As President-elect Trump weighs in with endorsement of the one bill approach, a @WSJ report notes “Going with one bill isn’t risk-free, however. Instead of being too big to fail, one large bill could become too big to succeed.”
Democrats and legacy media hope that the GOP go with two budget/reconciliation processes as delay on the tax cuts increases the likelihood the Trump tax cuts will never pass and the enormous tax hike Democrats wanted in the campaign will become reality on 1/1/26. If the GOP can’t get to yes now, it’s hard to see how it will be in a stronger position in spring, summer or fall.
Once the president-elect declares his view on the changes he’s got to have to the IRS code —no taxes on tips, on social security and a raise in the SALT deduction— @SpeakerJohnson and @RepJasonSmith need to package it with the funding and authorization Wall, as well as defense build-up, energy and housing construction deregulation and move it through rules and on to floor.
If Trump (smartly) includes regularization for Dreamers he may even pick up some D votes (or they can shut up forever on immigration reform as the Wall and regularization for Dreamers are 80-20 issues.)
The “one, big beautiful bill” should be on the floor this week in the form of a budget resolution. As of Monday, COB, the GOP is losing time on the 2026 election and the opportunity to use a Trump 2.0 boom to hold on to their majority in 22 months.
Reminder: If deficit hawks ball at projections of debt from the tax provisions, then raise revenue through the massive windfall that would follow a one time 10% tax on conversions of IRA savings to Roth IRAs. Pretty much everyone in the country with retirement funds would make that switch and pay that tax which would not only raise enormous revenues, it would remove a massive distortion from the economy without incentivizing people away from saving for retirement.
A Cato Institute tweet says the biggest flaw in previous tax law is that most tax cuts weren't permanent.
📉 The 2017 tax law cut taxes by $5.5 trillion and increased revenue by $4 trillion.
— Cato Institute (@CatoInstitute) January 5, 2025
But its biggest flaw? Most tax cuts weren’t permanent. Tax policy expert @adamnmichel explains how we can fix this in 2025—without increasing the deficit. Read here: https://t.co/FCnlRjCz6q pic.twitter.com/o2Vpcwgu6U
High taxes impact everyone and everything in an economy. They impact employers, employees, consumers, business owners, and even government.
In their effort to sell tax increases, Democrats are prone to use phrases like, "Taxes will not be raised on anyone making less than (a certain amount)." That does not take into account the employee who may lose his job because the company for which he works is paying higher corporate taxes instead of him. It does not take into account the budgetary sacrifices that a consumer is forced to make because of higher prices resulting from higher taxes. It does not take into account the reduced quality of goods produced or services offered by a business because money is going to taxes instead of business operations. It does not take into account the economic damper that high taxes have on the economy as a whole, which, yes, can ultimately reach government revenues.
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