- The Washington Times - Monday, May 18, 2020

Former White House economic adviser Gary Cohn said parts of the 2017 tax-cut law he helped shepherd through Congress might have to be rolled back amid the economic fallout from the coronavirus pandemic.

“We need to sit down and look at the revenue side of the equation, and we need to look at the expense side of the equation,” Mr. Cohn said this week on CBS’ “Face the Nation. “So I would say, yes, that the tax situation in the United States has to be readjusted. Everything should be on the table.”

Mr. Cohn had been asked if some of the tax cuts he personally helped usher through Congress would have to disappear to help pay for the unprecedented federal spending amid the crisis.

He also said, though, that the administration helped cut taxes for lower-income earners and increased taxes for some higher-income people.

Mr. Cohn pointed to a provision in the $3 trillion coronavirus rescue package the House passed on Friday that restores some state and local tax deduction benefits largely enjoyed by wealthier people that had been curbed in the tax law.



It’s unlikely that President Trump or congressional Republicans will embrace any sort of reversal of the 2017 tax-cut law, which lowered the federal tax burden for most Americans and was one of Mr. Trump’s signature first-term accomplishments.

Mr. Cohn was part of the “Big Six” largely credited with crafting the law. The group also included Treasury Secretary Steven T. Mnuchin, Senate Majority Leader Mitch McConnell, Rep. Kevin Brady of Texas, former Sen. Orrin G. Hatch of Utah and former Speaker Paul D. Ryan.

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