Is the Republican Party the party of ObamaCare repeal failure or of a tax reform victory? The test will be in whether it dramatically lowers spending.
After a year of missteps and misfires, the House and Senate passed the final version of tax reform last week and sent it to President Trump‘s desk. It is the first substantive change to federal tax law since 1986. And it did repeal ObamaCare’s individual mandate, a small but significant part of the coercive big-government law.
There’s no denying this is a huge step in the right direction — for both the party and the country. The current, overly complex tax code has done a great deal of damage to our economy — forcing Americans to waste billions of dollars and hours on compliance and pushing companies overseas. This new simpler, flatter, fairer easy-to-follow tax code will spur economic growth. It will leave more money in the private sector — more money for providing for our families and for investing in new ventures that will result in new jobs.