The independent newspaper of the University of Iowa community since 1868

The Daily Iowan

The independent newspaper of the University of Iowa community since 1868

The Daily Iowan

The independent newspaper of the University of Iowa community since 1868

The Daily Iowan

Guest Opinion: Wariness needed in tax reform

Tax cuts for the wealthy shouldn’t be part of the equation.
Signs+direct+people+towards+tax+help+in+the+Iowa+City+public+library+on+Wednesday%2C+Feb.+15%2C+2017.+UI+law+students+provide+the+free+tax+service+to+community+members.+%28The+Daily+Iowan%2FJoseph+Cress%29
The Daily Iowan; Photos by Alex
Signs direct people towards tax help in the Iowa City public library on Wednesday, Feb. 15, 2017. UI law students provide the free tax service to community members. (The Daily Iowan/Joseph Cress)

As Congress turns its attention to tax reform, Iowans should be aware of two areas in which the success of tax reform will hinge.

RELATED: Guest Opinion: Congress should retain tax provision helping Iowans pay for college

The first area is the legislative process that will be used to pass tax reform. On Aug. 1, Senate Majority Leader Mitch McConnell said he intended to use a process called reconciliation to pass tax reform on a simple party-line vote. This would be a mistake. The result would likely be a repeat of the contentious, divisive, and ultimately unsuccessful process that just took place around health-care change.

The second area is whether tax reform gives tax cuts to the wealthy. Several tax reform proposals from the Trump
administration, including eliminating the estate tax and alternative minimum tax and lowering the capital-gains tax, would result in concentrating more wealth in the hands of members of our society who are already extremely wealthy.

RELATED: Williams: Baroque tax code leads to less funding

Providing tax cuts to those who do not need them is not a justifiable reason to increase our country’s national debt.

I urge my fellow Iowans to contact their senators and representatives in Congress to ensure a bipartisan and responsible overhaul of the U.S. tax code.

Clay Pasqual

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