Biden’s proposed tax hike would crush workers and the economy

  • by:
  • Source: The Hill
  • 05/20/2024

The Biden administration is poised to impose a $3 trillion tax hike. That would be the effect of ending the Trump-era tax cuts.

President Biden is eager for more money from U.S. taxpayers, and he is willing to drive businesses back overseas by raising corporate tax rates. It’s clear that Biden would rather fund his big government progressive agenda than ensure that working citizens can afford necessities. 

The Biden tax hike isn’t about relief for the middle class. It is about supporting exorbitant government spending, which could drive the national debt to new highs. The plan will be crushing for hardworking Americans struggling under Bidenomics.

Biden’s desire to end the 2017 Tax Cuts and Jobs Act (TCJA) — the most significant tax cuts since the 1980s — is just the latest in a string of poor economic decisions by his administration. The TCJA, which I was proud to help enact as a member of the White House legislative affairs team, led to record prosperity, especially among the poorest segments of our society. It also ensured that well-paying jobs stayed in the U.S.

P20210326AS-0453 by The White House is licensed under flickr United States government work

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