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A Better Way was a conservative agenda for U.S. governance, crafted by former Speaker of the House Paul Ryan as well as Kevin Brady, former chairman of the House Ways and Means Committee. [1] [2] [3] Ryan called the six-point plan "a complete alternative to the Left's agenda". [4] Shortly after the 2016 United States elections, Speaker Ryan said that the plan, described by Reuters as an "aggressive Republican legislative agenda", provides a blueprint for laws he expected to spearhead in the Republican congress in cooperation with the Republican Trump administration. [5] For someone other than the party's nominee to direct the party's agenda in a presidential election year was termed "a rare move". [6]
The plan covers six points: Poverty, National Security, Economy, Constitution, Health Care, and Tax Reform. [7] The points in the plan, which Speaker Ryan intended to press forward in the 2017-2018 115th Congress, had been described as "mostly ignor[ing] the areas where Trump's agenda clash with tenets of conservative doctrine" such as trade policy, immigration reform and entitlement cuts. [8] It did not cover some points that were major issues in the presidential campaign, such as a border wall with Mexico and banning immigrants who are Muslims. [9]
One of the largest revenue increasing proposals of the plan is reform of corporate tax which is "border adjusted." This would mean that exports would be exempt from tax and imports would be subject to it. The Economist and others note that this may fall foul of World Trade Organization (WTO) rules. [16] [17] Bloomberg View noted that the proposed tax would favour domestically produced goods as they would be taxed less than imports, to a degree varying across sectors. For example, the wage component of the cost of domestically produced goods would not be taxed. [17] Because the United States imports more than it exports, border adjustability would raise $1.2trn over a decade, covering almost two-thirds of the cost of cutting the tax rate to 20%, according to the Tax Policy Centre. [16]
On January 16, Donald Trump commented that a border adjustment tax would be "too complicated" in a Wall Street Journal article. [18] White House Press Secretary Sean Spicer stated on January 26 said that the proposal was "one idea" of the administration in regards to tax policy. [19]
Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits. Tax reform can include reducing the level of taxation of all people by the government, making the tax system more progressive or less progressive, or simplifying the tax system and making the system more understandable or more accountable.
The 107th United States Congress was a meeting of the legislative branch of the United States federal government, composed of the United States Senate and the United States House of Representatives. It met in Washington, D.C. from January 3, 2001 to January 3, 2003, during the final weeks of the Clinton presidency and the first two years of the George W. Bush presidency. The apportionment of seats in this House of Representatives was based on the 1990 United States census.
Paul Davis Ryan is an American former politician who served as the 54th speaker of the United States House of Representatives from 2015 to 2019. A member of the Republican Party, he was the vice presidential nominee in the 2012 election running alongside Mitt Romney, but lost to incumbent president Barack Obama and then-vice president Joe Biden.
Patrick Joseph Tiberi is an American lobbyist and politician who served as the U.S. representative for Ohio's 12th congressional district from 2001 to 2018. His district included communities north and east of Columbus. He is a member of the Republican Party, and previously served in the Ohio House of Representatives from 1993 to 2000. He briefly served as Chair of the new Republican Main Street Congressional Caucus from September 7, 2017.
Joseph Simon Donnelly Sr. is an American attorney, politician, and diplomat who served as a United States senator from Indiana from 2013 to 2019. Since 2022, he has served as the United States Ambassador to the Holy See.
The 114th United States Congress was a meeting of the legislative branch of the United States of America federal government, composed of the United States Senate and the United States House of Representatives. It met in Washington, D.C., from January 3, 2015, to January 3, 2017, during the final two years of Barack Obama's presidency. The seats in the House were apportioned based on the 2010 United States census.
The 115th United States Congress was a meeting of the legislative branch of the United States of America federal government, composed of the Senate and the House of Representatives. It met in Washington, D.C., from January 3, 2017, to January 3, 2019, during the final weeks of Barack Obama's presidency and the first two years of Donald Trump's presidency. The seats in the House were apportioned based on the 2010 United States census.
The Health Care and Education Reconciliation Act of 2010 is a law that was enacted by the 111th United States Congress, by means of the reconciliation process, in order to amend the Affordable Care Act (ACA). The law includes the Student Aid and Fiscal Responsibility Act, which was attached as a rider.
The Path to Prosperity: Restoring America's Promise was the Republican Party's budget proposal for the Federal government of the United States in the fiscal year 2012. It was succeeded in March 2012 by "The Path to Prosperity: A Blueprint for American Renewal", the Republican budget proposal for 2013. Representative Paul Ryan, Chairman of the House Budget Committee, played a prominent public role in drafting and promoting both The Path to Prosperity proposals, and they are therefore often referred to as the Ryan budget, Ryan plan or Ryan proposal.
The political positions of Paul Ryan, the U.S. representative from Wisconsin's 1st congressional district from 1999 to 2019 and the 54th speaker of the United States House of Representatives from 2015 to 2019, were generally conservative, with a focus on fiscal policy. Ryan was Chairman of the House Budget Committee from 2011 to 2015 and of Ways and Means in 2015. Ryan was the Republican nominee for Vice President as the running mate of Mitt Romney in the 2012 presidential election.
The 2014 United States federal budget is the budget to fund government operations for the fiscal year (FY) 2014, which began on October 1, 2013 and ended on September 30, 2014.
Carlos Luis Curbelo is an American politician who served as the U.S. representative for Florida's 26th congressional district from 2015 to 2019. In 2018, he was narrowly defeated for re-election by Democrat Debbie Mucarsel-Powell. He is a member of the Republican Party. Prior to his election to the U.S. House, he served on the Dade County School Board.
The first 100 days of Donald Trump's presidency began on January 20, 2017, the day Donald Trump was inaugurated as the 45th president of the United States. The first 100 days of a presidential term took on symbolic significance during Franklin D. Roosevelt's first term in office, and the period is considered a benchmark to measure the early success of a president. The 100th day of his presidency ended at noon on April 30, 2017.
A border-adjustment tax is a tax on goods based on location of final consumption rather than production. It allegedly eliminates incentives for companies to reduce their tax bills through tax inversion and intangible asset relocation.
A destination-based cash flow tax (DBCFT) is a form of border adjustment tax (BAT) that was proposed in the United States by the Republican Party in their 2016 policy paper "A Better Way — Our Vision for a Confident America", which promoted a move to the tax. It has been described by some sources as simply a form of import tariff, while others have argued that it has different consequences than those of a simple tariff.
The American Health Care Act of 2017 was a bill in the 115th United States Congress. The bill, which was passed by the United States House of Representatives but not by the United States Senate, would have partially repealed the Affordable Care Act (ACA).
The United States federal budget for fiscal year 2018, which ran from October 1, 2017, to September 30, 2018, was named America First: A Budget Blueprint to Make America Great Again. It was the first budget proposed by newly elected president Donald Trump, submitted to the 115th Congress on March 16, 2017.
The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, Pub. L. 115–97 (text)(PDF), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986. Major elements of the changes include reducing tax rates for businesses and individuals, increasing the standard deduction and family tax credits, eliminating personal exemptions and making it less beneficial to itemize deductions, limiting deductions for state and local income taxes and property taxes, further limiting the mortgage interest deduction, reducing the alternative minimum tax for individuals and eliminating it for corporations, doubling the estate tax exemption, and set the penalty enforcing individual mandate of the Affordable Care Act (ACA) at $0.
The Consolidated Appropriations Act, 2018 is a United States omnibus spending bill for the United States federal government for fiscal year 2018 enacted by the 115th United States Congress and signed into law by President Donald Trump on March 23, 2018.
The Taxpayer First Act is a law that makes significant reforms to the Internal Revenue Service (IRS).