Trump Tax Cuts 2.0 and Congress Are Headed for a Fateful Encounter, as per Steve Forbes and Ken Blackwell
Unleashing American Prosperity: The Battle for Trump Tax Cuts 2.0
'Kudlow' panelists Ben Domenech and Steve Forbes delve into the ongoing House battles over the budget resolution. In the face of escalating economic uncertainties, the U.S. Congress stands at a critical crossroads.
Crippling inflation, skyrocketing prices, and economic turmoil plague American families – a direct outcome of the Biden administration's harmful policies. As tax deadline looms, Washington holds a golden opportunity to revitalize growth, refresh prosperity, and reaffirm its commitment to the principles that have always fortified our nation.
That opportunity lies in the swift passage of President Donald Trump's ambitious tax plan.
*TSUNAMI OF TAX CUTS: A CASTLE WALL OF PRO-GROWTH POLICIES*
The murky waters of current inflation are not simply a global inevitability – they are a byproduct of the Biden administration's riotous spending, overregulation, and hostile stance towards American energy. Over the past three years, Washington has launched a bitter war on affordable energy, unleashing a tsunami of government spending, suffocating businesses with red tape, and tanking the economy.
The aftermath: astronomical prices, dwindling paychecks, and gnawing economic anxiety for middle-class families. The time has come for bold, swift action.
The devastating impact of Bidenomics must be countered by aggressive, pro-growth measures. Inaction by Congress risks prolonging economic instability and igniting further uncertainty.
So, let's tackle the essentials: lower individual income tax rates and streamline the tax code. The tax system ought to incentivize work, savings, and social mobility, not penalize them.
Markets thrive on confidence, not procrastination. Enacting President Trump's Tax Cuts 2.0 would send a striking message: relief is imminent, growth is on the horizon, and America is open for business once more.
close video## Ovation for Trump Tax Cuts: Senate Approves Permanent Relief for Working Families
Senator Marsha Blackburn discusses the historic passage of the TPC Act, offering permanent relief to American taxpayers and businesses faced with burdensome taxation.
The undeniable success of the 2017 Trump tax cuts serves as a beacon of hope. Those pro-growth reforms brought forth tangible benefits to families across every income bracket, boosted wages, slashed unemployment to historical lows, and encouraged an influx of investment into the American heartland.
*ROCK SOLID MAJORITY PUSHES TO REPEAL SALT CAP*
It worked before, and it can work again. With a strong hand, we can reignite that same American resilience and get our economy back on course.
The game plan: reduce individual income tax rates and slim down the tax code. That means trimming the number of brackets, slashing all personal income tax rates, and raising the standard deduction to ensure families keep a larger chunk of their hard-earned dollars. The overworked American deserves a long-awaited wage hike – not from government handouts, but from the freedom to keep more of their pay.
American families deserve a tax code that works for them, not against them.
Next up, we must slash the capital gains tax to a competitive 15%. Investment hinges on innovation, job creation, and retirement security.
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Yet, as it stands, investors are hammered by punitive taxes on gains, which discourages capital formation and hampers the self-starters critical for the next wave of American prosperity. A 15% capital gains rate is more than just pro-investor – it's pro-growth, pro-worker, and pro-American. Unbelievably, it would instantaneously boost revenue.
The most pressing priority: Congress must lower the corporate tax rate to a globally competitive 15%. At this critical juncture, with markets jittery and global doubt on the rise, slashing the corporate rate will serve as an economic serum.
It will encourage investment at home, shield American jobs, and help buffer against the inflationary pressures wrought by Biden's erratic trade and fiscal mismanagement. Simply put, we should equip American businesses to lead the pack in a competitive global landscape.
close video## Congress Ramps Up Efforts for TPC Act: Delivering Tax Cuts for the American People
Fox News' Lisa Boothe and Brent Bozell provide updates on the TPC Act, which seeks to repeal the limiting cap on state and local tax (SALT) deductions, and its progress through Congress.
Lower corporate taxes transcend Wall Street – they impact Main Street. They empower small businesses to expand, hire, and elevate wages.
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They boost U.S. manufacturers' competitiveness against foreign competitors. They keep jobs at home instead of sending them overseas.
In 2017, Trump tax cuts unleashed a wave of economic growth that propelled every income group, shrank racial income disparities, and ushered in record employment. The moment is ripe for a second wave. Trump Tax Cuts 2.0 represents the next leap toward revitalizing American prosperity. Congress must take action with resolve and haste.
The bedrock of economic freedom, limited government, and low taxes is not merely a theoretical ideal – it's a proven equation for success. Congress must act now. Inaction equals defeat. Rapid passage of the Trump tax plan is not only prudent policy, but an economic necessity.
American families deserve a tax code that works for them, not against them. Let's make it happen – and more. The future of our economy, and the strength of the American Dream, hangs in the balance.
- In the face of economic uncertainties, the U.S. Congress stands at a critical crossroads, with the opportunity to revitalize growth and reaffirm its commitment to principles that fortify the nation through the swift passage of President Donald Trump's tax plan.
- Escalating economic uncertainties, including crippling inflation and skyrocketing prices, plague American families due to the Biden administration's harmful policies, but action can counter the devastating impact of Bidenomics with pro-growth measures such as lower individual income tax rates and streamlined tax codes.
- Markets thrive on confidence, not procrastination, and enacting President Trump's Tax Cuts 2.0 would send a message that relief is imminent, growth is on the horizon, and America is open for business once more, boosting investment and embracing economic prosperity.
- To ignite that same American resilience and get the economy back on course, the game plan includes reducing individual income tax rates, trimming the number of brackets, slashing all personal income tax rates, and raising the standard deduction to ensure families keep more of their hard-earned dollars.
- Investment hinges on innovation, job creation, and retirement security, which would be fostered by slashing the capital gains tax to a competitive 15%, boosting revenue and encouraging capital formation.
- To spur economic growth, congress must lower the corporate tax rate to a globally competitive 15% to keep jobs at home, boost U.S. manufacturers' competitiveness against foreign competitors, and encourage investment at home, benefiting both businesses and American families.
