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Suddenly, only the bad news from the Republican Congress on tax cuts appears. Some people in the house are talking about a five -year extension of Trump’s tax cuts. Senators talk about 2 or even 3 budget bills that place tax cuts towards the back of the line. This is bad economics and bad politics.
Republicans suffer from the amnesia of the economy. Which was the number one question in last November elections. And the economy had 2 components: inflation and affordability. In other words, as bidenflation increased by 20%, real wages of medium and lower-income blue collar workers have gone down. Mr Trump’s successful working -class voters coalition was not based on the species, the gender or left -wing culture. This was based on the poverty of income.
Wesley Hunt, MEP R -Texas, is discussing economic growth under “Kudlow” under President Donald Trump.
There are 2 ways of gaining medium -income wallets. Reducing inflation, which would reduce energy costs, result in less public spending and money printing and reduce their taxes. The care side policy is always political and economic winners. Worker voters cannot afford to live on the Biden economy. However, Republican economic policies have to provide a lot of elbows for working people to gain weight for their wallets and easily afford the Trump economy. And if the Republican suspension is a lot of failed economic models such as government beans counters like CBO, GOP must stand up and fight with it.
Revenues after the Trump tax cut in 2017 increased to $ 1.5 by $ 2 trillion. Even the CBO admits it was nearly $ 2 trillion over their early estimates. And while it seems to be curved and the GOP in the woods should use the political foundation of Senator Mike Crapo – which claims that making popular tax cuts in the future will not cause loss to lose revenue. So they don’t have to reduce spending $ 4-5. Yes, they have to give out the expenses for 3% of Scott Bessent GDP. And reduce debt / GDP ratio. But the Laffer curve growth dividend will be enormous from tax cuts.
Scott Bessent, secretary of the United States Treasury, calls for President Donald Trump’s economic and fiscal goals in his first interview on Kudlow, since he joined the administration.
This is what history shows. And there is another reason for GOP to make all Trump tax cuts permanent: the president wants it.
He was elected, among other things, on the basis of a promise of tax cuts. As Karoline Leavitt, the White House press secretary today said, Mr Trump’s tax priorities are very clear: make the tax cuts of 2017, no tips, elderly taxes, overtime payments, America’s tax cuts products, and eliminate special tax credit for billionaires Sports team owners. Or investment interest rate cuts. These are presidential priorities. He won the elections with a nearby landslide.
Coalitions of working class blacks, browns, Asians, young people, women, men, according to which the coalition was largely based on optimistic beliefs that Trump could renew the economy and get unlimited access to the ladder of the opportunity. In the house and the Senate, Republicans cannot stand in the way of President Trump.
