The tax overhaul that Republicans aim to pass before Christmas will ultimately help the GOP in the 2018 midterm elections, according to anti-tax activist Grover Norquist.
In an interview airing Sunday with radio host John Catsimatidis on “The Cats Roundtable” on AM 970, the president of Americans for Tax Reform also predicted that “in 1,000 different local governments, politicians who were planning to raise your taxes will not.”
"I think we'll be surprised at how quickly politicians with national ambitions will bring their marginal tax rates down on both income taxes and on property taxes," he said.
The final bill agreed upon in conference between the House and Senate caps the state and local tax deduction at $10,000, allowing filers to deduct property taxes and state and local income and sales taxes up to that amount.
“The strong economic growth that will flow from the tax cuts, the higher value of stocks and bonds, that savings that people have from lower taxes ... that will help the Republicans win House and Senate seats" in 2018, Norquist asserted.
“This is big win for [President Donald] Trump and Republicans,” he said, hailing administration’s deregulations and the tax overhaul’s repeal of Obamacare’s individual mandate.
The House is expected to vote on the bill early this week, followed by a final vote in the Senate.