The Morning Brew: Senate passes tax cut
Senate passes tax cut
It's a once-in-a-generation opportunity to fix a tax code that stifles business investment, keeps trillions in corporate profits languishing overseas and slows the American economy.
So argue Republicans in Congress, who hail their tax overhaul as an economic tonic that will deliver benefits to ordinary Americans well into the future.
Democrats and most nonpartisan analysts see things rather differently — and they point to history to argue their case. They see the Tax Cuts and Jobs Act as an ill-conceived bill that will further enrich the wealthy and swell the government's debts by at least $1 trillion in the next decade. Previous tax cuts, they note, have done little to boost hiring, raise wages or accelerate economic growth.