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Economics

GOP Push for 20-Year Tax Cut Grows as Ryan Seeks Permanent Fix

  • Toomey works to get House GOP support to extend budget window
  • Speaker’s office: temporary business cut could lead to decline
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Paul Ryan's Tax-Overhaul Pep Talk

A Republican senator is building support to change budget rules in order to make temporary tax cuts last for two decades or more, but he has yet to convince a critical figure -- House Speaker Paul Ryan.

Ryan says he wants permanent tax cuts, a goal he repeated this week in response to questions about Senator Pat Toomey’s proposal to relax time limits on any cuts that would increase the federal deficit. Beyond Ryan’s skepticism, Toomey’s proposal carries procedural challenges and political risks for the GOP, according to budget experts.