President Biden vowed Friday that former President Donald Trump’s 2017 tax cuts will be allowed to lapse next year if he’s re-elected and will “stay expired” — which could mean higher taxes for middle-class and low-income Americans.
In a speech to electrical union members in Washington, Biden, 81, slammed Trump’s Tax Cuts and Jobs Act (TCJA), which permanently lowered corporate tax rates from 35% to 21% and temporarily lowered personal income tax rates through 2025, as a giveaway to the rich.
“[Trump] was proud, very proud of his $2 trillion tax cut when he was president that overwhelmingly benefited the wealthy and the biggest corporations and exploded, exploded the federal debt,” Biden said of his predecessor ahead of their expected November election rematch.
Read more at https://nypost.com/2024/04/19/us-news/biden-teases-tax-hikes-for-everyone-saying-trump-cuts-will-stay-expired-if-re-elected/
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