The most important issue facing Congress during its coming legislative session is whether it will allow Donald Trump to impose trillions of dollars in new taxes without a single congressional vote.
The Constitution gives Congress the power to regulate commerce and levy taxes. However, Congress has created a variety of loopholes that have empowered the president to bypass Congress and unilaterally impose import taxes.
These loopholes allow for import restrictions intended to be targeted in the short term in response to national emergencies or military threats. During Trump’s first term in office, he used these bills unprecedentedly to impose significant tariff hikes. These tariff increases undermined some of the benefits of his signature tax cuts.
Read the full story here.