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Current Trump Tariffs Threaten to Offset Benefits of Promised Tax Cuts

Summary by Tax Foundation
While Congress works on the “One, Big, Beautiful Bill” to cut taxes, President Trump has imposed significantly higher taxes by placing tariffs on more than 70 percent of US imports.

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Tax FoundationTax Foundation
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Current Trump Tariffs Threaten to Offset Benefits of Promised Tax Cuts

While Congress works on the “One, Big, Beautiful Bill” to cut taxes, President Trump has imposed significantly higher taxes by placing tariffs on more than 70 percent of US imports.

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financialnewsnetwork.comfinancialnewsnetwork.com

Financial News Network - Larger tax-cut proposal not enough to offset drag on growth from tariffs: Goldman Sachs

A new report by Goldman Sachs finds that while larger tax cuts will yield a bigger growth boost, the drag on economic growth from tariffs will offset that gain.Read More …

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Bias Distribution

  • 100% of the sources lean Right
100% Right
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Tax Foundation broke the news in on Tuesday, May 20, 2025.
Sources are mostly out of (0)
Stories disproportionately reported by the Left or the Right

Similar News Topics

Taxes

Taxes

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United States

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