{"id":1048028,"date":"2024-09-10T21:11:15","date_gmt":"2024-09-11T01:11:15","guid":{"rendered":"https:\/\/democrats.org\/?p=1048028"},"modified":"2024-09-10T21:11:16","modified_gmt":"2024-09-11T01:11:16","slug":"trump-vance-project-2025-agenda-an-inflation-bomb-to-to-hike-costs-for-hardworking-families","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-vance-project-2025-agenda-an-inflation-bomb-to-to-hike-costs-for-hardworking-families\/","title":{"rendered":"Trump-Vance Project 2025 Agenda: An \u201cInflation Bomb\u201d to to Hike Costs for Hardworking Families"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Reminder<\/em><\/a>: No matter what Trump says, Project 2025 is an \u201cundeniably Trump-driven operation.\u201d<\/em><\/p>\n\n\n\n

FACT: The Trump-Vance Project 2025 agenda would risk supercharging inflation while giving tax breaks to billionaires and big corporations at the expense of America\u2019s middle class.<\/strong><\/p>\n\n\n\n

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

Axios<\/a>: \u201cTrump\u2019s inflation bomb: How his second-term plans could make it worse\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\u2019s plans would reignite inflation and cause lasting harm to the global economy if he wins in November.\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cA drumbeat of reports from Wall Street economists have warned that Trump\u2019s plans could substantially slow economic growth while driving up consumer prices.\u201d<\/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>Project 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.\u201d<\/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

New York Times<\/a>: \u201cSenator JD Vance of Ohio, former President Donald J. Trump\u2019s running mate, denied in an interview with NBC News on Sunday that tariffs had caused higher costs for Americans, as economists have documented.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump Tax Cuts Would Cost More Than Almost All Federal Agencies\u201d<\/strong><\/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 \u2026 Further cutting corporate taxes \u2026 would primarily benefit large firms.\u201d<\/strong><\/p>\n\n\n\n

Vance<\/a> on Trump\u2019s plan that would raise tariffs and raise costs for hardworking Americans: \u201cThis is a fascinating proposal<\/strong> and we could talk for a while about it.\u201d<\/p>\n\n\n\n

Project 2025<\/a>: \u201cThe corporate income tax rate should be reduced to 18 percent.\u201d<\/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

Vance<\/a>: \u201cThe left attacked Donald Trump for those tax cuts said they would make the deficit worse<\/strong> when in reality we took in more revenue because the government got out of the way on the regulatory side and the tax cuts spurred a lot of growth which means more people working, which meant more economic production which meant the entire economy was healthier \u2026 I think we have a pretty common sense regulatory and tax agenda.\u201d<\/strong><\/p>\n\n\n\n

REMINDER: Trump\u2019s failed economic agenda resulted in broken promises, a skyrocketing deficit, and new incentives for companies to ship jobs overseas.<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cThe 2017 corporate tax cuts signed into law by Mr. Trump have not increased government revenue \u2026 In fact, they have had the opposite effect.\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised this Wisconsin town a manufacturing boom. It never arrived.\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

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

Washington Post Analysis<\/a>: \u201cOne of President Donald Trump\u2019s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch.<\/strong> The financial burden that he\u2019s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump\u2019s time in office. \u2026 The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Reminder: No matter what Trump says, Project 2025 is an \u201cundeniably Trump-driven operation.\u201d FACT: The Trump-Vance Project 2025 agenda would risk supercharging inflation while giving tax breaks to billionaires and big corporations at the expense of America\u2019s middle class. The Atlantic: \u201cTrump\u2019s Plan to Supercharge Inflation\u201d Axios: \u201cTrump\u2019s inflation bomb: How his second-term plans could […]<\/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-1048028","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump-Vance Project 2025 Agenda: An \u201cInflation Bomb\u201d to to Hike Costs for Hardworking Families - 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\/trump-vance-project-2025-agenda-an-inflation-bomb-to-to-hike-costs-for-hardworking-families\/\" \/>\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=\"2024-09-11T01:11:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-11T01:11:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trump-vance-project-2025-agenda-an-inflation-bomb-to-to-hike-costs-for-hardworking-families\/\",\"url\":\"https:\/\/democrats.org\/news\/trump-vance-project-2025-agenda-an-inflation-bomb-to-to-hike-costs-for-hardworking-families\/\",\"name\":\"Trump-Vance Project 2025 Agenda: An \u201cInflation Bomb\u201d to to Hike Costs for Hardworking Families - 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