the hill: GOP congress debating whether tax reform should include retroactive tax cuts

quote:

---

[quote]Republicans are debating whether parts of their tax-reform package should be retroactive in order to boost the economy by quickly putting more money in people’s wallets.

Already under pressure to secure a significant legislative victory prior to next year's midterm elections, some Republicans argue that having tax changes take effect as early as January 2017 could help their case.

The House Ways and Means and the Senate Finance committees are weighing the issue as they write legislation that can be introduced after the August recess.

Those pushing for retroactive tax changes in recent days include several prominent Republicans.
House Freedom Caucus Chairman Mark Meadows (R-N.C.) said last week that retroactive tax cuts are important so that the benefits of the tax changes are realized sooner.

“We need to make it retroactive so that we unleash the cash and the capital that is sitting there that’s ready to be invested,“ Meadows said.

Publishing executive Steve Forbes, who backed President Trump during the 2016 presidential election, said Tuesday in an op-ed for his magazine that it's crucial for tax cuts to be retroactive.

---