Former President Donald Trump vowed to “make the Trump tax cuts permanent” during a speech at Turning Point Action’s “People’s Convention” on Saturday.
Speaking at the convention in Detroit, Michigan, Trump added that if re-elected, his administration would also “cut taxes even more for working families and small businesses.”
Trump’s promise comes as many provisions of the 2017 Tax Cuts and Jobs Act (TCJA), passed under his administration, are set to expire at the end of 2025.
A report from the Tax Foundation revealed that the TCJA would add 1.4 million jobs to the U.S. economy by 2025.
Ways and Means Committee Chairman Rep. Jason Smith (R-MO) released a report stating that under the TCJA, wages increased by 4.9 percent in 2018 and 2019, with lower-income workers experiencing a 50 percent wage increase.
