STEPHEN MOORE: The Biggest Conservative Victory In 30 Years

Everyone knows that the Big, Beautiful tax bill signed into law on the 4th of July lowers tax burdens for families and businesses. It also averts a $4 trillion tax increase starting next year.  That’s enough reason to heartily celebrate.

But what isn’t well known is that this new law doesn’t just change tax policy.  It includes dozens of other long-sought policy goals — what I call “hidden gems.”  For conservatives this new law includes a parade of policy victories.  Here is a list of some of them:

• This law is the most aggressive federal advancement of school choice by allowing low-income parents to direct education dollars to private, charter or Catholic schools that are better for their kids.

• The law also expands eligibility for personalized medical savings accounts instead of conventional insurance. This allows workers to control their health care dollars.

• The law increases mining and drilling on federal lands to increase access to America’s natural resource supplies to end our dependence on the Middle East or China or Russia.

• The law formally ends the Biden absurd student loan forgiveness program, which forced taxpayers to swallow the costs of unpaid college loans.

• The bill ends the electric vehicle mandate, thus allowing Americans to buy whatever car they want and phases out the Green New Deal.

• The law expands opportunity zones and extends tax benefits for investing in inner cities and economically depressed rural areas. (I thought Democrats cared about poor communities!)

• The law increases the tax to 8% on the near trillion dollars of bloated university endowments — money that was never taxed. Is there a better way to tax the privileged rich?

• The new law lowers tax rates for the 30 million-plus small businessmen and women.

• The law strengthens work requirements for Medicaid and food stamp recipients.  History shows that work requirements end welfare dependency.

• The new law authorizes the sale of expanded spectrum to strengthen rural broadband, secure America’s technological dominance, and reduce the national debt by nearly $100 billion.

• The new law raises funds to reduce the budget deficit by increasing timber sales on federal lands.

• The law is a victory for financial privacy by ending the requirement that Venmo, PayPal, and certain banks report transactions by Americans of over $600 be reported to the IRS.

• The law holds universities (not taxpayers) financially accountable to the government on defaulted federal student loans.

There’s much more to shout about, but these are some of the greatest hits. In a big and beautiful bill that advances America’s freedom and prosperity.  Expect the economy to grow at 3%+ in the years ahead, which will bend down the burden of our national debt. Is it the biggest consecutive victory in modern times?  It may just be.

 Stephen Moore is a visiting senior fellow at the Heritage Foundation and a co-founder of Unleash Prosperity.  He is a former Trump senior economic advisor.  

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

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