Even if the proposal is not passed, it will put Democrats in the House of Representatives in opposition to the new tax cuts that Republicans can use in the November 6 election. The mid-term elections will determine whether the Republican Party can control the Congress.
Under the proposal, a temporary reduction in personal income tax rates approved by Congress and President Trump last December would be permanent.
The new tax cuts will also lift the maximum age limit for some pension accounts and allow new businesses to offset more startup costs.
Kevin Brady, chairman of the House Revenue Committee and the lead author of the tax reform 2.0 plan, is scheduled to vote on the Committee Thursday and is expected to vote in the House of Representatives on October 1.
Trump and Republicans hailed the December tax cuts as a boost to the economy and an important part of the Republican propaganda campaign to defend the majority of their Senate and House seats.
Democrats say the tax cuts are mainly for the rich and the business.
Nancy Pelosi, the Democratic leader of the US House of Representatives, said in a statement Monday: "With the Republican Rich Man Tax Fraud 2.0, the Republicans want to increase the deficit even more, and even make the bank accounts of the 1% of the richest people richer."
If the tax cut is passed in December, the federal deficit is projected to increase by $1.5 trillion in 10 years, according to estimates.

<>Republicans in the house of Representatives propose further tax cuts at the clos

 

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