Tags: larry kudlow | stephen moore | trump | taxes

Kudlow, Moore in WSJ: Trump Needs to Cut Taxes Now

(Getty/AP)

By    |   Friday, 27 January 2017 10:05 AM EST

Newsmax Finance Insiders Larry Kudlow and Stephen Moore are urging President Donald Trump to immediately enact sweeping tax cuts as he promised on the campaign trail to bolster job creation.

 “Congressional Republicans say they plan to wait to take up tax cuts until later in the year, after they’ve dealt with ObamaCare, passed a 2017 budget resolution, confirmed President Trump’s first Supreme Court nominee and tackled other initiatives,” they wrote in the Wall Street Journal.

“This would be a big mistake. When Mr. Trump addresses Congress in a joint session Feb. 28, he should urge lawmakers to pass a jobs bill, including a tax cut, during his first 100 days in office," wrote Moore and Kudlow, both Newsmax Finance Insiders.

"The centerpiece of the plan should be a reduction in the tax rates on corporations and, importantly, on America’s 26 million small businesses. Broader reforms, including tax-rate cuts for families, should come in a second round of legislation later this year,” they wrote.

“The tax plan Mr. Trump campaigned on—which the two of us helped write last year—is indispensable to economic revival," they contend.

Time is Trump’s enemy, they warn.

"Any delay in passing the tax bill risks putting a damper on investment decisions and slowing the path to real economic recovery. The longer the delay, the lower the odds of getting a tax cut passed at all this year," they claim.

Moore and Kudlow argue any Trump plan must contain:

  • A reduction in the tax rate, retroactive to Jan. 1, 2017, for all businesses to between 15% and 20%, with immediate expensing for capital spending.
  • A 10% tax on the repatriation of foreign profits brought back to the U.S.
  • An infrastructure fund through which all money raised from repatriation could be dedicated to rebuilding America’s roads, highways, airports, pipelines, modernizing the electric grid, etc.

While his tax strategy remains in limbo,  Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth, bestselling author David Horowitz told TheStreet.com.

Trump won’t be an ideological purist like Republicans who support free trade but don't fight for fair trade, Horowitz said.

“If you just say, ‘well we're for free trade and we're not going to look at the deals that we make’ -- that's not a good idea,” he said. “We've had an anti-business president now for eight years who doesn't take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.”

Horowitz's new book, "The Big Agenda: President Trump's Plan to Save America," reveals Trump's "first 100 days strategy" to roll back Obama's legislative and executive record.

Horowitz's new book is the first book about the Trump presidency and has soared to the top of the Amazon bestseller charts, becoming the No.1-selling book on the web. Trump will also lead the way in making infrastructure spending to boost the U.S. economy, Horowitz said.

“If the economy grows as it will under Trump, there's going to be a lot more money to spend,” he said.

"Big Agenda: President Trump's Plan to Save America" is available at bookstores everywhere – or get your copy on Amazon – Click Here Now

Larry Kudlow is a senior contributor at CNBC. His new book is “JFK and the Reagan Revolution: A Secret History of American Prosperity,” written with Brian Domitrovic.

To find out more about Larry Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com

Stephen Moore is a distinguished visiting fellow at The Heritage Foundation, economics contributor to FreedomWorks and author of "Who's the Fairest of Them All?" To find out more about Stephen Moore and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page atwww.creators.com. 

© 2024 Newsmax Finance. All rights reserved.


InvestingAnalysis
Newsmax Finance Insiders Larry Kudlow and Stephen Moore are urging President Donald Trump to immediately enact sweeping tax cuts as he promised on the campaign trail.
larry kudlow, stephen moore, trump, taxes
636
2017-05-27
Friday, 27 January 2017 10:05 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved