Why Trump’s tax bill will make — or break — America’s small businesses

Americans who want a booming economy had more reason to be optimistic last week.

First, President Trump paused his announced tariffs, giving him room to negotiate with other countries — including our allies — about lowering their many unfair trade barriers.

More important, House Republicans on Thursday passed a budget bill, setting the stage for making Trump’s 2017 tax cuts permanent. The final bill could pass within a month, maybe two.

Make no mistake: Tax cuts are the key to Trump’s presidential legacy. Tariffs might help boost American businesses, but nothing does more to lift up Americans themselves than lower taxes.

I say this with all due respect for the president’s focus on trade. I’m not one of those freaking out over the massive tariffs he unveiled on April 2, which he hopes to use in the short run to usher in a new era of not just free, bu...
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