By Chip Rogers
August 22, 2018
Source: Hotel Interactive
It has been just over half a year since the pro-growth and pro-business provisions of the Tax Cuts and Jobs Act became law, and the results speak for themselves. The economy grew at 4.1 percent during the second quarter this year, a stark difference from GDP growth rates in recent years, and according to the Bureau of Labor Statistics, the average job growth rate is at 215,000 jobs per month.
To keep this momentum alive, House Ways and Means Committee Chairman Kevin Brady introduced the second phase of tax reform. The Tax Reform 2.0 package would fix a serious problem within the original bill; the expiration date. Many of the vital provisions that spurred this economic revitalization are set to expire come 2025. The growth America continues to see from the passage of tax reform could come to a screeching halt unless Congress passes this legislation to make these important provisions permanent.