Semafor reports:
Donald Trump may be interested in using steep new tariffs to pay for tax cuts next year, an idea that would force Congress to vote on his aggressive trade agenda. Republican lawmakers, however, are far from sold. Some are already panning the prospect.
“I don’t like tariffs, number one. I think the consumer pays them. So they’re regressive. They’re a sales tax, basically,” Kentucky Sen. Rand Paul told Semafor, adding that he’d still listen to the idea even though “I kind of doubt” tariffs would make it into a GOP tax bill.
As Republicans prepare to take control of both chambers of Congress in January, they’re weighing whether to formalize Trump’s tariff regime as part of a bill that would extend tax cuts they passed during his first term.
Read the full article.
Trump may be interested in using steep new tariffs to pay for tax cuts next year, an idea that would force Congress to vote on his aggressive trade agenda.
Republican lawmakers, however, are far from sold.https://t.co/HFLoFLpNhB
— Semafor (@semafor) November 19, 2024