{"id":1046979,"date":"2024-08-27T14:06:49","date_gmt":"2024-08-27T18:06:49","guid":{"rendered":"https:\/\/democrats.org\/?p=1046979"},"modified":"2024-08-27T14:06:50","modified_gmt":"2024-08-27T18:06:50","slug":"new-report-trumps-project-2025-agenda-would-raise-taxes-on-the-middle-class-to-pay-for-tax-giveaways-for-billionaires","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-report-trumps-project-2025-agenda-would-raise-taxes-on-the-middle-class-to-pay-for-tax-giveaways-for-billionaires\/","title":{"rendered":"NEW REPORT: Trump\u2019s Project 2025 Agenda Would RAISE TAXES On the Middle Class to Pay for Tax Giveaways for Billionaires"},"content":{"rendered":"\n
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In response to a <\/em>new report<\/em><\/a> detailing how Donald Trump\u2019s Project 2025 agenda would raise taxes on the middle class to pay for tax giveaways for the ultra-wealthy and big corporations,<\/em> DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump and JD Vance\u2019s Project 2025 agenda is an extreme and out-of-touch blueprint to double down on Trump\u2019s failed tax scam that rigged the economy for the ultra-wealthy on the backs of America\u2019s middle class. The Trump-Vance Project 2025 agenda would raise taxes for low- and middle-income families while gifting more tax breaks for billionaires and slashing the tax rate for the largest corporations. Trump and Vance want to put the ultra-wealthy first and leave hardworking Americans behind \u2013 and that\u2019s why voters will cast their ballots for middle-class champions Vice President Harris and Governor Walz in November.\u201d<\/p>\n\n\n\n

NEW: The Trump-Vance ticket\u2019s Project 2025 agenda would raise taxes on low- and middle-income households to finance tax giveaways for the ultra-wealthy and big corporations.<\/strong><\/p>\n\n\n\n

Center for American Progress<\/a>: \u201cProject 2025\u2019s Tax Plan Would Raise Taxes on the Middle Class and Cut Taxes for the Wealthy\u201d<\/strong><\/p>\n\n\n\n

\u201cIn [Project 2025], far-right extremist plans are outlined that raise taxes on low- and middle-income households to finance tax cuts for the wealthy and large corporations.<\/strong> Project 2025\u2019s tax plan includes an \u2018intermediate tax reform\u2019 that includes changes to tax brackets and corporate tax cuts that would shift the tax burden toward middle-income households\u2026<\/strong><\/p>\n\n\n\n

\u201cThe shift toward a flat consumption tax while eliminating income taxes would lead to an average $5,900 tax increase for the middle 20 percent of households and an average $2 million tax cut for the top 0.1 percent\u2026<\/strong><\/p>\n\n\n\n

\u201cProject 2025\u2019s new tax bracket system, however, represents an enormous shift of the tax burden from wealthy tax filers to middle-income tax filers. \u2026 The end result of these changes would be a tax increase for middle-class households.<\/strong> The median family of four made about $110,000 in 2022 and would experience about a $3,000 tax increase from this change. \u2026 In addition, the median one-person household made about $40,000 in 2022 and would experience a $950 tax increase under the plan\u2026<\/p>\n\n\n\n

\u201cCombining the changes to tax brackets, the cut in the tax rate on capital gains and dividends for the wealthy, and the elimination of the net investment income tax, this would deliver an average tax cut of up to $2.4 million for the 45,000 households making more than $10 million annually\u2026 <\/p>\n\n\n\n

\u201cProject 2025 does not stop at cutting taxes for wealthy individuals; it also proposes an array of tax cuts for corporations. \u2026 This would amount to a $24 billion tax cut for the Fortune 100<\/strong>, the 100 largest companies in America\u2026<\/p>\n\n\n\n

\u201c[Project 2025] proposes replacing income and corporate taxes with a flat consumption tax as part of a \u2018fundamental tax reform\u2019… The lowest-income households (the bottom 20 percent) would pay $4,100 more in taxes, and middle-income households (the middle 20 percent) would pay $5,900 more. The top 1 percent, meanwhile, would see a $360,000 tax cut, and the top 0.1 percent would see a $2 million tax cut.\u201d<\/strong><\/p>\n\n\n\n

Trump\u2019s Project 2025 agenda would go even further than his 2017 tax scam that rigged the economy for the ultra-wealthy at the expense of hardworking Americans, and <\/strong>risk<\/strong> supercharging inflation.<\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cMillions of low- and middle-class households would likely face significantly higher taxes under the Project 2025\u2019s proposals.\u201d<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cSixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump’s plans would reignite inflation and cause lasting harm to the global economy if he wins in November.\u201d<\/strong><\/p>\n\n\n\n

BBC<\/a>: \u201cThe economic advisers suggest that a second Trump administration should slash corporate and income taxes, abolish the Federal Reserve and even consider a return to gold-backed currency.\u201d<\/p>\n\n\n\n

The Hill<\/a>: \u201cTrump win, GOP sweep would fuel inflation<\/strong>: Moody\u2019s Analytics\u201d<\/p>\n\n\n\n

The Atlantic<\/a>: \u201cTrump\u2019s Plan to Supercharge Inflation\u201d<\/strong><\/p>\n\n\n\n

Project 2025<\/a>: \u201cThe corporate income tax rate should be reduced<\/strong> to 18 percent. The corporate income tax is the most damaging tax in the U.S. tax system, and its primary economic burden falls on workers because capital is more mobile than labor.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump 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<\/strong>, 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

Trump can\u2019t hide from his disastrous economic record that allowed billionaires to pay less in taxes than the working class for the first time ever and left him with the worst jobs record of any president in modern American history.<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018\u201d<\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n

The Guardian<\/a>: \u201cDonald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/strong><\/p>\n\n\n\n

Fortune<\/a>: \u201cTrump to leave office with the worst jobs record since Herbert Hoover\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump\u2019s Jobs Record Fell Short of Promises Even Before the Virus\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/strong><\/p>\n\n\n\n

REMINDER: Project 2025 is Trump and Vance\u2019s 900 page anti-freedom agenda crafted by the Heritage Foundation and Trump\u2019s far-right extremist allies \u2013 it\u2019s \u201cundeniably a Trump-driven operation,\u201d and Vance has praised it as containing \u201cgood ideas.\u201d<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cThis is undeniably a Trump-driven operation.<\/strong> The biggest tell: Johnny McEntee \u2014 one of Trump’s closest White House aides, and his most fervent internal loyalty enforcer \u2014 is a senior adviser to Project 2025. One of the most powerful architects is Stephen Miller, a top West Wing adviser for the Trump administration.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cTrump claims not to know who is behind Project 2025. A CNN review found at least 140 people who worked for him are involved\u201d<\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cMany of the authors of the blueprint are former Trump officials, and the Heritage Foundation has spent the past year-plus recruiting people to implement the plans within the administration<\/strong>, Scott said.\u201d<\/p>\n\n\n\n

The Week<\/a>: \u201cMany of Trump\u2019s indicated plans for a second term fall in line with the Project 2025 outline.\u201d<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201c[Heritage Foundation president Kevin Roberts] told me that he views Heritage\u2019s role today as \u2018institutionalizing Trumpism.\u2019 <\/strong>\u2026 The lesson of Trump\u2019s first year in office, Roberts told me, is that \u2018the Trump administration \u2026 simply got a slow start. And Heritage and our allies in Project 2025 believe that must never be repeated.\u2019\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump took a private flight with Project 2025 leader in 2022\u201d<\/p>\n\n\n\n

\u201c\u2018They\u2019re going to lay the groundwork and detail plans for exactly what our movement will do,\u2019 Trump said.\u201d<\/strong><\/p>\n\n\n\n

Vance<\/a>: \u201cI\u2019ve reviewed a lot of [Project 2025]. There are some good ideas in there.\u201d<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cJ.D. Vance wrote foreword of upcoming book from Project 2025 architect\u201d<\/strong><\/p>\n\n\n\n

The New Republic<\/a>: \u201cProject 2025 Leader Is Overjoyed by Trump\u2019s Vice Presidential Pick\u201d<\/strong><\/p>\n\n\n\n

Nick Corasaniti, New York Times<\/a>: \u201c[Roberts] reacted to the news [of Vance\u2019s VP selection] \u2018with a broad smile on my face\u2019 and said that \u2018privately, we were really rooting for him.\u2019\u201d<\/strong><\/p>\n\n\n\n

Vox<\/a>: \u201cKevin Roberts, the president of the right-wing Heritage Foundation and the driving force behind Project 2025, told Ward that \u2018[Vance] is absolutely going to be one of the leaders \u2014 if not the leader \u2014 of our movement.\u2019\u201d<\/strong><\/p>\n\n\n\n

Americans are learning more and more about the Trump-Vance ticket\u2019s extreme and unpopular Project 2025 agenda \u2013 and rejecting this dangerous and out-of-touch MAGA blueprint.<\/strong><\/p>\n\n\n\n

Navigator Research<\/a>: \u201cProject 2025 Has Become Significantly More Unfavorable Since Trump Attempted to Distance Himself From the Plan\u201d<\/strong><\/p>\n\n\n\n

\u201cProject 2025 has seen a significant increase in both awareness and unfavorability since our last survey in June. 54 percent of Americans report being familiar with Project 2025 \u2026 Among those familiar with the Project 2025, just 11 percent view it favorably, while 43 percent view it unfavorably\u2026<\/strong><\/p>\n\n\n\n

\u201cWhen people are asked what negative news they have heard recently concerning Donald Trump, mentions of Project 2025 have dramatically increased. \u2026 A plurality of Americans believe Project 2025 accurately represents what Trump stands for.\u201d<\/strong><\/p>\n\n\n\n

Navigator Research<\/a>: \u201cAmericans oppose all the key elements in Project 2025, with the greatest concerns around health care, worker\u2019s rights, and dismantling federal programs. <\/strong>Over four in five Americans oppose an array of policies proposed in Project 2025 such as \u2018allowing employers to stop paying hourly workers overtime\u2019 \u2026 Additionally, four in five oppose \u2018allowing the government to monitor people\u2019s pregnancies to potentially prosecute them if they miscarry.\u2019<\/p>\n\n\n\n

\u201cAmericans\u2019 overall opposition to Project 2025 increases after reading about its specific policy goals.<\/p>\n\n\n\n

\u201cThree in five Americans say Project 2025 would benefit the wealthiest Americans, CEOs, and corporations.\u201d<\/strong><\/p>\n\n\n\n

Miami Herald<\/a>: \u201cAs Americans learn more about Project 2025, they become more opposed, poll finds\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In response to a new report detailing how Donald Trump\u2019s Project 2025 agenda would raise taxes on the middle class to pay for tax giveaways for the ultra-wealthy and big corporations, DNC Rapid Response Director Alex Floyd released the following statement:  \u201cDonald Trump and JD Vance\u2019s Project 2025 agenda is an extreme and out-of-touch blueprint […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1046979","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW REPORT: Trump\u2019s Project 2025 Agenda Would RAISE TAXES On the Middle Class to Pay for Tax Giveaways for Billionaires - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-report-trumps-project-2025-agenda-would-raise-taxes-on-the-middle-class-to-pay-for-tax-giveaways-for-billionaires\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-27T18:06:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-27T18:06:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-report-trumps-project-2025-agenda-would-raise-taxes-on-the-middle-class-to-pay-for-tax-giveaways-for-billionaires\/\",\"url\":\"https:\/\/democrats.org\/news\/new-report-trumps-project-2025-agenda-would-raise-taxes-on-the-middle-class-to-pay-for-tax-giveaways-for-billionaires\/\",\"name\":\"NEW REPORT: Trump\u2019s Project 2025 Agenda Would RAISE TAXES On the Middle Class to Pay for Tax Giveaways for Billionaires - 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