Homepage / Currency / Passing the GOP tax bill was hard. Selling it to voters could be even harder
Due Diligence Blog Digital Data Rooms for the Netherlands Board Room Apps Secure Board Management With Secure Board Portals What Happens at Board of Directors Meetings? Board Room Software Review How to Prepare Board Rooms for Effective Board Meetings Board Room Software Boosts Performance and Communication Selecting a Secure Data Room Review Local Data Room Service Review How to Find the Best Virtual Data Room Review What to Look for in a Data Room uk Provider Document Storage and Distribution Software Everything About VDRs Corporate Software Advantages How to Choose a Virtual Data Room Provider The Most Secure Way to Transfer Files How to Manage Online Board Meetings Benefits Virtual Data Room Solutions – Must-Haves for M&A and Due Diligence Best Data Room Functions for the Different Types of Industries How to Choose a VDR Software Provider How to Choose an Online Board Portal The Benefits of a Boardroom Review Board Room Online Solutions – How to Get the Most Out of Your Board Meetings Why You Need a Board Room How a Board Room Blog Can Transform Your Business Choosing the Best Board Room Format How to Have Productive and Engaging Board Directors Meetings Choosing the Right Virtual Data Room How to Keep Safe Documents Storage Teaching Kids About Online Safety Avoid Costly Mistakes With Free Data Room Services Corporate Virtual Data Secure Online Data Rooms Solutions How to Keep Share, Edit and Delete Your Data Safe Virtual Data Room Software Secrets for M&A Due Diligence What to Look For in Boardroom Providers Board of Directors Blog Posts How to Deliver Value at Your Board Meetings How to Have Effective Board Meetings Responsibilities of Board Members Deal Management – How to Effectively Manage a Complex Sales Pipeline Data Rooms For Mergers And Acquisitions How to Have a Successful Board Room Meeting Choosing a Board Room Service Provider What is a Board Room Service? Board Room Software Review – Choosing the Best Portal for Mother Board Meetings Why a Board Room Providers Review Is Important What Is a Board Room Review? Venture Software for VC Firms What Is an Assessment Report? The Importance of a Tech Audit Popular Business Applications What to Look For in a Data Room App What Are Business Applications? How to Choose a Virtual Data Room How to Plan a Data Room Review Coronavirus Guide What is a Virtual Data Room? What Is Data Science? What Is an Operating System? Turbotax Small Business Review How Online VDRs Are Used in M&A Deals Why Choose VDR Software? The Power of Business Software The Benefits of a Software Board Online Data Room Review The Importance of Tech Knowledge Improving Accuracy of Financial Data Online Business Records – How to Keep Your Online Business Records Accurate and Secure What is a Board Portal De? DealRoom Review – A Review of VDR Software M&A Due Diligence for Private Companies The Virtual Data Room Review Why Companies Use a Data Room Review to Facilitate M&A Transactions The Best File Sharing Services How Online VDRs Are Used in M&A Deals Best Virtual Data Room How to Choose a Best Board Room Provider Choosing a Data Room for Due Diligence What Is a Data Room Business Software? Best Data Room Providers Review Data Room Providers Review Mostbet Tr Resmî Web Sitesinde Giriş Ve Kayıt Olm Kumar Oynamak Için En Iyi Yerdir The Benefits of Cloud Data Services for Enterprises Online Data Room and SSL How to Build a Diverse Board of Directors Best Virtual Data Review A Data Room Service Review How Runn Makes Project Data Accessible, Accurate and Shareable Five Pillars of Information Protection The Importance of Online Business Reports Benefits of Colocation Services Virtual Data Rooms Guide Choosing a Business Virtual Data Room Choosing the Right VDR Service Review How to Conduct a Virtual Data Room Review Glory Online Casino Türkiye En Iyi Oyunları Ve Bahisleri Olan Kumarhane Mostbet Casino On-line Em Pt 2024 ️ Bónus As Well As Revisão

Currency

Passing the GOP tax bill was hard. Selling it to voters could be even harder

Republicans scored a major legislative victory by passing their sweeping overhaul of the tax code in record time. Now, they face a task that could be just as daunting: selling the law to the American people.

After spending millions of dollars last year to advance the legislation, GOP advocacy groups are unleashing millions more to ensure Republicans’ hard-won policy triumph translates into a political win in time for the 2018 midterm elections.

Ahead of the Nov. 6 elections, the American Action Network is committing at least $10 million to tout the merits of the new law, starting with a $2 million TV and digital ad campaign in 23 key congressional districts.

Meanwhile, the network of advocacy groups with ties to the billionaire Koch brothers is pledging a multimillion-dollar campaign that combines paid advertising with town halls, phone banks and grassroots actions.

“There’s a lot of work to be done educating Americans about [tax reform’s] benefits,” said James Davis, executive vice president of Freedom Partners. “We will make a massive push to show how pro-growth policies can revitalize the economy and open the floodgates to new opportunity, innovation and prosperity.”

One PAC that’s supportive of President Donald Trump is taking a more unconventional approach to winning over voters. The 45Committee, founded by wealthy Trump confidantes Sheldon Adelson and Todd Ricketts, sponsored an ad during the college football TaxSlayer Bowl that dubbed Senate Majority Leader Mitch McConnell “the real tax slayer” for shepherding the legislation through the narrow majority in his chamber.

Republicans are counting on the rewrite of the tax code to maintain their control of Congress during this year’s midterm elections. Yet the law remains deeply unpopular among the public, with many households skeptical that any benefits will trickle down to them.

Just about a third of Americans support the new law, according to a USA Today/Suffolk University poll last month. The survey also found about half of Americans did not believe they would enjoy a tax break under the new law. Other recent independent polls show similar results.

“We’re going to make sure we keep it right there,” Nicole Gill, executive director of Tax March, said of the weak poll numbers.

Tax March, part of a coalition of groups that initially organized to block the Republican tax bill, is now hoping to capitalize on the overhaul’s unpopularity. Under the banner Not One Penny, it kicked off a cross-country tour on Saturday in Kansas — a state that was forced to roll back aggressive tax cuts amid steep budget shortfalls and widespread tax dodging.

The campaign is also planning stops in contested red states with Democratic representatives, such as West Virginia, along with vulnerable blue districts like Missouri. The tour, titled “Repeal the Trump tax,” will include town halls and events with local officials and small-business owners. It will culminate in Washington on April 15.

According to planning documents obtained by CNBC, the groups are planning to spend at least $10 million on the effort.

“What we learned from the [2017] campaign is once people find out what’s in the bill, they hate it,” Gill said.

The effort could also draw some national firepower. In a letter last week, House Minority Leader Nancy Pelosi urged Democrats to stage teach-ins on the tax bill on Saturday, tying the campaign to the Rev. Martin Luther King’s message of “fairness and equality.”

“The Republican-controlled House, Senate and White House squandered 2017 by stacking the deck for [the] privileged, the powerful and special interests and against America’s middle-class families,” the letter stated.

The nonpartisan Tax Policy Center recently estimated that the average tax cut for all households this year will be about $1,200, a substantial number but lower than the projected $2,059 figure that Republicans typically cite.

The center also found that a tax break for the top 20 percent of earners is nearly twice as large as the one for the middle class: Wealthier filers receive a 2.9 percent increase in after-tax income versus 1.6 percent for those in the middle. In addition, the tax cuts for individuals expire after 2025 under the new law, while the lower rate for corporations is permanent.

Republicans argue that reducing rates for businesses will help spur a faster economy, job creation and wage growth that are not fully captured by many independent projections. And over the past few weeks, companies have provided plenty of anecdotal evidence to back up that claim.

More than 100 companies have announced they will pay out bonuses, raise wages, increase retirement contributions or expand their operations as a result of the new law, according to a list compiled by Americans for Tax Reform, a vocal advocate for the plan. The group estimates more than a million workers will be affected.

In a statement Friday, the White House cast the moves by businesses as a “Trump Bonus” and said the president had long argued that lowering taxes “would be the fuel that propels our economy to new heights.”

The statement added: “The preliminary results show that the president is right, and American workers and families are the big winners.”

Ultimately, Republicans are banking that the new tax law will not only pay for itself, but also sell itself: Americans will come around once they have more money in their pockets.

“My view is this,” McConnell said on the floor moments after the Senate passed the tax law last month. “If we can’t sell this to the American people, we ought to go into another line of work.”

Source: cnbc economy
Passing the GOP tax bill was hard. Selling it to voters could be even harder

Comments are closed.