Donald Trump by Gage Skidmore https://flic.kr/p/LAM6bs
Americans for Tax Reform urges all members of the House Budget Committee to vote “Yes” on the FY 2025 budget resolution introduced by Chairman Jodey Arrington (R – Texas).
This resolution is a key first step in ensuring the 2017 Trump tax cuts are made permanent and for delivering on the tax cut agenda President Trump campaigned on.
By voting in support of this budget resolution, members will be providing the necessary legislative vehicle to make the provisions of the 2017 Tax Cuts and Jobs Act permanent law and provide tax relief for Americans across all income groups.
Taxpayers face the largest tax increase in American history if Congress fails to extend the 2017 Trump tax cuts. Failure from Congress to act would mean taxpayers fall back into living under Obama’s tax rates:
- The standard deduction, currently claimed by 90 percent of tax filers, would be cut in half
- Forty million families would see their current Child Tax Credit cut in half
- A family of four earning $80,610 on average would see a $1,695 tax hike
- More than 26 million small business owners would be hit with a 43.4 percent tax rate
In addition to providing for $4.5 trillion in tax cuts, the prospective plan would deliver $2.6 trillion in economic growth savings, a $1.5 trillion cut in mandatory spending, and a $829 billion cut in discretionary spending. Overall, it would reduce the deficit by $1 billion over ten years.
During this deliberative process, we urge members to prioritize delivering pro-growth tax cuts to the American people and to carry out President Trump’s agenda.
