{"id":1034263,"date":"2024-06-03T19:38:20","date_gmt":"2024-06-03T19:38:20","guid":{"rendered":"https:\/\/democrats.org\/?p=1034263"},"modified":"2024-06-03T19:38:55","modified_gmt":"2024-06-03T19:38:55","slug":"trump-and-maga-republicans-extreme-agenda-left-black-families-behind-and-they-want-to-do-it-again","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-and-maga-republicans-extreme-agenda-left-black-families-behind-and-they-want-to-do-it-again\/","title":{"rendered":"Trump and MAGA Republicans\u2019 Extreme Agenda Left Black Families Behind \u2013 and They Want to Do it Again"},"content":{"rendered":"\n
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In response to MAGA Republicans\u2019 attempts to resurrect their failed agenda that left Black Americans behind, <\/em>DNC Senior Spokesperson Marcus W. Robinson released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cPresident Biden and Vice President Harris continue to break systemic barriers and expand economic opportunities for Black communities. Under this administration, we\u2019ve seen Black small business ownership grow at the fastest pace in over 30 years, we\u2019ve achieved historically low Black unemployment rates, and millions of Black children were lifted out of poverty in 2021 thanks to the American Rescue Plan. If Donald Trump and MAGA Republicans get their way, they will rewind the clock on this progress and push harmful economic policies that only work for the wealthy and well-connected \u2013 cutting taxes for the ultra-rich and mega-corporations at the expense of hardworking Black Americans.\u201d<\/p>\n\n\n\n

Republican lawmakers are ready to leave working-class Black Americans behind by pushing an extension of the Trump tax cuts if they win in November \u2014 a move that would line the pockets of the ultra-wealthy and increase the national debt by the trillions\u2026<\/strong><\/p>\n\n\n\n

The Hill<\/a>: \u201cRepublicans prepare to fast-track tax cuts in reconciliation\u201d<\/strong><\/p>\n\n\n\n

\u201cRepublicans are getting ready to fast-track the extension of the Trump tax cuts through the reconciliation process if they win big in November. <\/strong>Nearly seven years after the GOP used budget reconciliation to pass the Tax Cuts and Jobs Act (TCJA), the party is gearing up to use the same maneuver to renew key provisions set to expire in 2026. While most legislation needs the support of 60 senators to avert a filibuster, budget reconciliation allows lawmakers to pass major tax and spending bills with a simple majority \u2014 and without bipartisan backing\u2026<\/p>\n\n\n\n

\u201cWhile changes in business and corporate taxes from the 2017 tax law changed investment flows within the economy, it did not add substantially to economic growth.<\/strong> The Congressional Budget Office (CBO) estimated gross domestic product (GDP) expansion due to the law of 0.3 percent in 2018 and 0.6 percent in 2019 before the economic policies of the pandemic made its continued effects too difficult to measure accurately.<\/p>\n\n\n\n

\u201cThe law also did not affect compensation levels for regular people, with the Congressional Research Service concluding that \u2018ordinary workers had very little growth in wage rates\u2019 resulting from the law.\u201d<\/p>\n\n\n\n

Center for American Progress<\/a>: \u201cAccording to new estimates released today by the Congressional Budget Office (CBO), permanently extending the expiring provisions of the Trump tax cuts would cost $4 trillion over the next 10 years, $400 billion per year.<\/strong>* This includes $3.4 trillion from extending the expiring individual and estate tax provisions as well as $551 billion from extending business provisions\u2026 <\/p>\n\n\n\n

\u201cAn extension would provide, on average, a larger tax cut for extremely rich households than for everyone else. <\/strong>Households with incomes of more than $500,000 per year\u2014roughly the top 2 percent of households by income\u2014would receive a larger tax cut than households making $200,000 per year, not just in dollars terms but also as a percentage of their after-tax income. And the households making $200,000 per year would receive a larger tax cut than those making $50,000 or less per year.\u201d<\/p>\n\n\n\n

\u2026and as if that wasn\u2019t bad enough, MAGA Mike Johnson is preparing an extreme \u201cmega-bill\u201d that could threaten millions of Black Americans\u2019 access to affordable health care.<\/strong><\/p>\n\n\n\n

Semafor<\/a>: \u201cSpeaker Mike Johnson promises a Republican mega-bill that would define Donald Trump\u2019s second term\u201d<\/strong><\/p>\n\n\n\n

\u201cSpeaker Mike Johnson is preparing Republicans for quick, large-scale action if they win unified control of government in November, telling Semafor he\u2019ll pursue a far-reaching bill aimed at addressing a wide range of issues at once. Johnson said he\u2019s been in frequent communication with Donald Trump, discussing the potential for a legacy-defining legislative package early in his presidency. <\/strong>[…]<\/p>\n\n\n\n

\u201c\u2018We did one round of health care reform, one round of tax reform. But we\u2019re looking at for [fiscal year 2025], we want to have a much larger scope, multiple issues to address in addition to the expiration of the Tax Cuts and Jobs Act.\u2019 <\/strong>[…]<\/p>\n\n\n\n

\u201cAs for the Affordable Care Act, a sensitive issue Trump has talked about revisiting after failing to repeal and replace the law in 2017<\/strong>, Johnson said \u2018I don\u2019t think there\u2019s any coordinated effort on that yet,\u2019 but added there\u2019s \u2018a lot of innovation and change that is desperately needed\u2019 in the healthcare system.\u2019\u201d<\/strong><\/p>\n\n\n\n

Working-class Black households were disproportionately left behind by Trump\u2019s tax giveaways for the ultra-wealthy.<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cThe Tax Break for Children, Except the Ones Who Need It Most\u201d<\/strong><\/p>\n\n\n\n

\u201cWhile Republicans say the increase shows concern for ordinary families, 35 percent of children fail to receive the full $2,000 because their parents earn too little, researchers at Columbia University found. A quarter get a partial sum and 10 percent get nothing. Among those excluded from the full credit are half of Latinos, 53 percent of [B]lacks and 70 percent of children with single mothers.<\/strong><\/p>\n\n\n\n

\u201cBy enriching the credit and including the affluent, the Trump expansion itself has brought attention to the poor children it excludes.<\/strong> While the 2017 law made millions of upper-income families eligible for the $2,000 credit (in part to offset the loss of other tax benefits), it gave a boost of just $75 to most full-time workers at the minimum wage.\u201d<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cWhite Americans Gain the Most From Trump\u2019s Tax Cuts, a Report Finds\u201d<\/strong><\/p>\n\n\n\n

Instead of pushing an economic agenda that would help uplift Black families, Trump wants to double down on his extreme MAGA tax scam that would disproportionately help his ultra-rich friends while leaving the middle class behind. <\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cI will never let the Trump tax cuts \u2026 I will never let them be taken away.\u201d<\/p>\n\n\n\n

Trump<\/a>: \u201cYou\u2019re all people that have a lot of money \u2026 You\u2019re rich as hell \u2026We\u2019re gonna give you tax cuts.\u201d<\/p>\n\n\n\n

Trump<\/a>: \u201cWe will replace Biden\u2019s tax hikes with the beautiful Trump tax cuts. You know, we have to extend the tax cuts.\u201d<\/p>\n\n\n\n

Trump<\/a> on whether his second term tax policies would echo those of his first term: \u201cYes, and I\u2019d do even more taxes.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cThe former president\u2019s closest economic advisers are plotting an aggressive new set of tax cuts to push on the campaign trail and from the Oval Office if he wins a second term. Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law. <\/strong>\u2026 Trump\u2019s advisers, though, have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to as low as 15 percent, or to use the revenue from the proposed tariffs to pay a dividend to U.S. households. Further cutting corporate taxes \u2026 would primarily benefit large firms.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201c[Trump] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.\u201d<\/p>\n\n\n\n

Vanity Fair<\/a>: \u201cDonald <\/strong>Trump <\/strong>Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term: Report\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cRepublicans argue that this will benefit small businesses. In fact, a large majority of small-business owners already have personal tax rates below 25 percent. This provision would aid a small group of developers, investors and other tycoons who work in professions or industries where it is relatively easy to set up pass-through businesses. Like, yes, Mr. Trump and his family, who make their money from one such industry: real estate.\u201d<\/p>\n\n\n\n

Economic Policy Institute<\/a>: \u201cThe TCJA overwhelmingly benefited the rich and corporations while overlooking working families\u201d<\/p>\n\n\n\n

Vox<\/a>: \u201cTrump said this tax break was for small businesses. It\u2019s giving $17 billion to millionaires this year\u201d<\/p>\n\n\n\n

\u201cIf many average Americans aren\u2019t noticing or loving the tax cut bill yet, it might be understandable \u2014 it benefits the wealthy by design. And a congressional report released this week shows that one specific new deduction for so-called \u2018pass-through\u2019 companies is heavily benefiting the rich. \u2026 The Republican tax bill cut the corporate tax rate to 21 percent from 35 percent and disproportionately benefits corporations and the wealthy.\u201d<\/p>\n\n\n\n

Thanks to President Biden’s economic agenda, Black communities and small businesses are growing and thriving.<\/strong><\/p>\n\n\n\n

White House Fact Sheet<\/a>: \u201cThe Biden-Harris Administration has:<\/p>\n\n\n\n