Taxes

Boehner: Talk of Tax Reform is Just “Happy Talk”

Written by SK Ashby

It remains to be seen if former House Speaker John Boehner was correct when he said a full repeal of Obamacare will never happen, but he's now inching closer to saying the same thing about "tax reform"

Boehner spoke at an energy conference yesterday where he said the prospect of passing tax reform is "just a bunch of happy talk" and he offered his assessment of the Trump regime.

“I was a little more optimistic about it early in the year; now my odds are 60/40,” the Ohio Republican said, according to energy-sector news publication RigZone. “The border adjustment tax is deader than a doornail. Tax reform is just a bunch of happy talk.

Boehner said he “never envisioned” Trump in the Oval Office, and while he said Trump “did what he could” with healthcare, his presidency still faces big problems. “Everything else he’s done [in office] has been a complete disaster,” Boehner said. “He’s still learning how to be president."

Current Speaker Paul Ryan wants to use a border tax to cover the cost of tax cuts for the rich, otherwise known as "tax reform," but Senate Republicans in states whose economy could be ruined by border taxes have already ruled it out. Trump's economic advisers have also come out against the idea because it would be terrible for business.

With no other way to pay for tax cuts, the chances of them passing it may ultimately hinge on their willingness to explode the deficit all over again. Many Republicans are undoubtedly willing to do that, but there may be just enough to kill it in the Senate if not in the House.