House GOP Group Budget Plan Seeks Tax Cuts, Business Breaks

The conservative Republican Study Committee is out with a 2025 budget proposal to extend individual and corporate breaks from the 2017 Trump’ tax law, and slash provisions from the Democrat-led tax-and-climate law.

It also calls for cutting funds for IRS modernization, eliminating the pandemic-era employee retention tax credit and estate taxes, and creating universal tax-free saving accounts.

The group contends that enacting the slate of provisions popular with conservative House Republicans would cut taxes by $5.5 trillion and grow revenue by $566 billion over a decade. The revenue estimate is from the right-leaning Tax Foundation, but other analysts dispute such ...