Tax Reform: Trajectory of Younger Generations Not Predetermined. Anas Faiq, Audencia Business School.
Sen. Bennet, D-CO (right) at Politico The Politico Playbook event on tax reform brought together prominent lawmakers to debate the administration’s policies during the first 100 days. Discussions revolved around tax rates, SALT (State and Local Tax) deductions, budget cuts, and the broader implications of these measures on businesses and individuals. Key participants included Senator Ron Johnson (R-WI), Representative Mike Lawler (R-NY), and Senator Michael Bennet (D-CO), each offering contrasting perspectives. Senator Ron Johnson criticized the proposed tax reforms, stating that they primarily benefit only 5% of businesses, leaving 95% unaddressed. He advocated for budget cuts through two separate bills aimed at reducing spending by $1.5 trillion. Johnson emphasized the simplicity of the current tax code and highlighted that tariffs could raise $1 trillion in revenue. He also pointed out that since 2019, the U.S. has maintained an...