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Economics

Here’s What May Happen to Your Taxes If Democrats Win the House

  • Corporate rate hike, carried interest repeal likely on agenda
  • Intra-party squabbles could emerge over SALT, pass-through cut
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Democrats Look to Take Control of House in Mid-terms

Republicans thought the historic overhaul that slashed taxes would be one of their main campaign selling points ahead of November elections. Instead, Democrats are talking more about the law -- and how they want to undo it.

In their bid to retake control of Congress, many Democratic candidates are pointing to the $1.5 trillion tax cut -- and what they say are its exclusive benefits for corporations and wealthy individuals -- as a roadblock to expanding benefits like Social Security and Medicare. Chipping away at some of the law’s costly provisions will help to fund those programs, they say.