Conservative groups praise GOP tax plan

Conservative groups praise GOP tax plan
© Greg Nash

Prominent conservative groups offered their support for the tax framework released Wednesday by the Trump administration and congressional GOP leaders and urged lawmakers to pass a budget resolution that would help to advance legislation based on the plan.

“The Republican tax reform plan will turbo-charge the economy, create millions of new jobs and make America the best place in the world to invest, build and create,” Americans for Tax Reform President Grover Norquist said in a statement.

The framework would collapse the current seven individual brackets to three, while also leaving open the possibility for a fourth rate that's higher than 35 percent. The plan would also lower tax rates for businesses, nearly double the standard deduction, and repeal the estate tax and alternative minimum tax.

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While conservative groups generally did not put their full weight behind the Republican bill to repeal and replace ObamaCare, they have been enthusiastic about the GOP efforts on taxes.

"The outline is both aggressive and very pro-growth with its rate reductions," said Club for Growth President David McIntosh.

“This framework is a giant step for a stronger economy, and more jobs and higher wages for the American people," said Freedom Partners Vice President of Policy Nathan Nascimento. "Making it a reality would let taxpayers keep more of their hard-earned money, increase America’s global competitiveness, and send a message that there will be no better place in the world to invest and create jobs than the United States."

Congressional Republicans' next step on tax reform following the framework's release is to pass a budget resolution that provides instructions for a tax bill. A budget resolution is needed if GOP lawmakers want to be able pass a bill without any votes from Democrats.

Conservative groups pushed lawmakers to promptly move forward with a budget measure.

"There is no reason to wait any longer," said FreedomWorks President Adam Brandon.