STEVE MOORE: The good, the bad and the ugly in the Senate's 'big beautiful' tax bill
Bravo to Idaho Republican Sen. Mike Crapo, who just released the Senate's draft of the tax bill. In many ways, this version is a polished-up improvement from the House bill. Most importantly, it makes virtually ALL the 2017 Trump tax cuts permanent. It also weeds out some of the troubling aspects of the House bill.
Its biggest flaw is the shortage of meaningful spending cuts out of our bloated $7 trillion enterprise, but I'm assured by Senate leadership that more cuts are to come this fall when the budget is finalized.
Here is my quick assessment of the best and worst features of the tax components of this latest version of the bill that will head to the Senate floor in as little as a week or so:
The finish line is now in site. The two chambers aren't too far apart and so reconciling the differences quickly and getting the gemstone of the Trump agenda on the president's desk for signature very soon should be easily achievable.
This will be an enormous victory for American families, workers and businesses and will stave off a $4 trillion tax hike on January 1 – something the congressional Democrats seem fine with.
Failure is not an option unless some Republicans prefer a suicide mission to blow up the economy and get wiped out in next year's midterm elections.
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