Democrats in Congress say they’ll hold middle-class tax cuts hostage to a huge overall tax increase.
That headline isn’t our phrase. It comes from Virginia Sen. Mark Warner, who like other Senate Democrats has been laying out in public the party’s tax strategy for the next Congress. Democrats are saying out loud that they plan to use the scheduled expiration of the 2017 tax cuts at the end of 2025 to insist on the largest tax increase in history.
“The main goal here is this can’t just be a debate about the 2017 tax cuts,” Mr. Warner told Bloomberg. “This is going to be Tax Armageddon.”