Steve Forbes, Ken Blackwell: Trump’s tax reduction 2.0: Will Congress meet with the moment or blow it up?

On the eve of another painful tax day, the US Congress has a meeting with fate.

At a time when American families face the devastating weight of high prices and economic uncertainty –caused by the unsuccessful Biden administration policy– Washington has a historical opportunity to restore growth, restore prosperity and confirm their commitment to the principles that have always made our nation strong.

This is the opportunity to pass the president’s fast Donald Trump A bold tax plan.

Trump allies make pressing a permanent tax reduction in Congress

Current Inflation crisis This is not some global inevitability – this is a direct result of the ill -advised expenses of the Biden administration, the overestimation and hostility to American energy. For more than three years, Washington has waged war with accessible energy, flooded the economy with trillions in state expenses and gasped by the enterprise with the red tape.

The results were devastating: prices rise, reduction of salaries and deep economic alarm for middle -class families. Time to go big and go fast.

A Economic Damage inflicted by Bidenomics Must be canceled with a bold, spicy action. The longer Congress is waiting for, the more uncertainty is deprived of our economy.

Let’s start with the obvious: we need to reduce the income tax rates and simplify the tax code. The tax system should reward the work, savings and upward mobility – not punish it.

Markets respond to confidence, not delay. Transfer to President Trump Tax reduction 2.0 I would send an unmistakable signal to enterprises, investors and workers: help is a road, growth again on the agenda, and America openly for business.

Don’t forget the wonderful success 2017 Year Trump’s Tax ReductionWhat caused historical economic expansion. These growth reforms have brought sensitive benefits to families throughout the income level, raised wages, reduced unemployment to generations and brought investments that increase to US shores.

A deep red state makes the main message about income tax: “We plant our flag”

It worked earlier – and now it can work even better. With the right steps, we can take the same American dynamism again and bring back our economy on the way.

Let’s start with the obvious: we need to reduce the income tax rates and simplify the tax code. A tax system Reward the work, savings and rising mobility – do not punish it.

This means a decrease in the number of brackets, reducing all income tax rates and ensuring families to save more than what they earn by increasing the standard deduction. The American worker has long been up to raise – not from the government’s mining, but from the fact that they retained more than salaries.

The American people deserves the Tax Code that works for them, not against them.

Next, we need to reduce the capital gain to 15%. Investment incentives of innovation, job creation and retirement safety.

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However, in accordance with the current legislation, investors face carpal income taxes – sharing capital formation and harm to those who need, we need to lead the next generation of American success. 15% capital gain is not only a foolish height, player and pro-American. It also has excellent benefit instantly brings more profit.

The most relevant congress should reduce the corporate tax rate for the world competitive 15%. At this critical stage, with markets and world uncertainty in growth, the decrease in the corporate rate will act as a shock absorber of economic shock.

This will stimulate the investment here at home, protect US jobs and help counteract the inflation, created by Biden and financial mismanagement. Simply put, if we want the American business to lead in a competitive world, we must give them tools for this.

The lower corporate taxes are not only about Wall -Strit – they are about the main street. They allow small businesses to expand, hire and raise wages.

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They give US manufacturers The ability to compete with foreign competitors. They retain work in America rather than sending them abroad.

In 2017, Trump’s tax reducing tax was unleashed by a wave of economic growth, which raised each income group, narrowed the gaps in racial income and brought a record job. Now it’s time to double. Trump 2.0 tax reduction This is the next step in the restoration of American prosperity. Congress must pass it – well, boldly and without delay.

The basis of economic freedom, limited government and low taxes are not just a theory – a proven formula for prosperity. Congress must act now. The delay is a defeat. Trump’s swift passage is not just a reasonable policy – an economic imperative.

American people deserves Tax Code It works for them, not against them. Let’s give them it – and much more. The future of our economy – and the power of the American dream depends on it.

Steve Forbes is the chairman and editor -in -chief of Forbes Media, J. Kenneth Blackwell is the chairman of the Conservative Action project and the former Treasury of Ohio.