Right as the Trump tax cuts were being finalized in December 2017, I wrote a piece for The New Republic about the silver lining that accompanied this large giveaway to the wealthy and well-connected. Democrats had put themselves in a straitjacket for years, with self-imposed “paygo” laws that they offset all new spending with revenue. That was fairly absurd in and of itself, but suddenly it was no longer a problem. The Trump tax cuts rolled back the estate tax, eliminated the alternative minimum tax, slashed the corporate tax rate, and created a new loophole, used mostly by the rich, for “pass-through” businesses.
Repealing those measures alone could net you around $3 trillion—and all you would have to do is go back to the pre-Trump tax code circa fall 2017. Every Democrat in office at the time opposed the Trump tax cuts: Joe Manchin, Kyrsten Sinema, Josh Gottheimer, and Kurt Schrader; every single one of the cast of characters that has become so familiar today. They all opposed it, and presumably would all be satisfied with a 2017-era tax code.
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