Al Charlson is a North Central Iowa farm kid, lifelong Iowan, and retired bank trust officer.
As Congressional Republicans and their very high income core supporters entered 2025, their highest priority was the extension and expansion of the 2017 income tax cuts. They told us so.
Back in January 2024, Senator Chuck Grassley told Semafor reporter Joseph Zeballos-Roig why Senate Republicans would not support an expanded child tax credit, which the House had approved by a bipartisan vote of 357 to 70. Grassley explained, “I think passing a tax bill that makes the president look good mailing out checks before the election means he could be reelected and then we won’t extend the 2017 tax cuts.” (There was nothing in the 2024 bill about mailing out checks.)
In any event, the heart of this summer’s budget reconciliation measure, which Republicans called the “One Big Beautiful Bill,” was extending and expanding the 2017 income tax cuts.
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