Stephen J. Moore is Co-Founder of the Committee to Unleash Prosperity, Distinguished Visiting Fellow in the Project for Economic Growth at the Heritage Foundation, and Senior Economist at FreedomWorks. He has formerly served as Senior Economics Writer and Member of the Editorial Board for The Wall Street Journal, Partner at Arduin, Laffer & Moore Econometrics, Founder and President of the Club for Growth, Founder of the Free Enterprise Fund, Senior Economist at the U.S. Congress Joint Economic Committee, Grover M. Hermann Fellow in Budgetary Affairs at the Heritage Foundation, and Director of Fiscal Policy Studies at the Cato Institute.
While the Big Beautiful budget bill recently enacted into law has a multiplicity of good, bad, and benign features, the law’s biggest and most beautiful feature is the continuation of the soon-to-expire 2017 income tax reduction enacted in Donald Trump’s first term. Although much of the American press has characterized this as a big gift...