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Tim Draughon

Yep, that’s the place!!

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1 January 24, 2026

Tim smith

Corporations began moving manufacturing jobs overseas as early as the 1960s and 1970s, with a significant acceleration in the 1980s and 1990s, driven by cost-cutting, trade liberalization, and technological advancements. Early initiatives included the 1965 Mexican Maquiladora Program and, later, shi... View More

January 24, 2026

Tim smith

The history of Congressional voting to reduce corporate taxes has primarily been driven by Republican lawmakers, often characterized by party-line votes, aiming to stimulate economic growth, improve global competitiveness, or encourage domestic investment. Major legislative efforts have occurred per... View MoreThe history of Congressional voting to reduce corporate taxes has primarily been driven by Republican lawmakers, often characterized by party-line votes, aiming to stimulate economic growth, improve global competitiveness, or encourage domestic investment. Major legislative efforts have occurred periodically since the 1950s, with significant cuts in 1964, 1981, and most notably 2017. Key Historical Votes and Legislation 1954/1964: Post-War and Kennedy Tax Cuts Following high taxes from the 1940s, the Internal Revenue Code of 1954 maintained the top corporate rate at 52%, which was then extended through 1963. The Revenue Act of 1964 (Kennedy Tax Cuts): Bipartisan support led to reducing the top corporate tax rate from 52% to 48%. 1981: Reagan's Economic Recovery Tax Act (ERTA) This act dramatically lowered taxes, including accelerated capital depreciation and reduced corporate rates. Voting Behavior: Strongly supported by a "working majority" of Republicans and some conservative Democrats. 1986: Tax Reform Act of 1986 This bipartisan legislation simplified the code but ultimately lowered the top corporate tax rate to 34%. 2017: Tax Cuts and Jobs Act (TCJA) The most significant recent reduction was led by Republicans (introduced by Rep. Kevin Brady). Vote Details: Passed the House 227–205 and the Senate largely along party lines, with 0 Democrats voting for it and 12 Republicans voting against it. Impact: Cut the top statutory corporate tax rate from 35% to 21%. 2025: Continued Reductions (Proposed/Passed) "One Big Beautiful Bill" (OBBB): In 2025, a Republican-controlled Congress passed further tax and spending legislation with President Trump, including making 2017 cuts permanent, enhancing deductions, and offering new incentives for onshoring. Voting Behavior: Passed in the House (227 to 203) with high party unity. Contextual Factors in Voting Deficit Concerns: Throughout history, debates have centered on whether to lower taxes during economic prosperity, with proponents often arguing that cuts pay for themselves or boost the economy, while opponents warn of rising deficits. Pass-Through Deductions: Recent efforts, such as in 2017 and 2025, have included special provisions for "pass-through" businesses (LLCs, partnerships), allowing owners to pay lower individual rates rather than corporate rates. Partisan Polarization: In recent decades, votes have become increasingly polarized. While 1980s tax cuts were more bipartisan, the 2017 TCJA was a strictly party-line vote, with Republicans arguing it helped the economy and Democrats arguing it favored corporations and the wealthy.

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January 24, 2026