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U.S. Economy Faces $1 Trillion Risk if Trump Tax Cuts Expire, National Association of Manufacturers Study Says

President-Elect Donald Trump has proposed trillions of dollars of tax cuts for individuals and businesses, according to the Associated Press.
State revenues have flattened out partly due to tax cuts, as reported by the Urban Institute.
Democratic Governor Kathy Hochul has unveiled a plan to cut income taxes for most people, according to the Associated Press.
States are experiencing tighter budget conditions, said Brian Sigritz, director of state fiscal studies at the National Association of State Budget Officers.

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RealClearMarkets

What Did the Trump Tax Cuts Do? Nobody Really Knows.

Andrew Duehren, NY Times Economic upheaval caused by the pandemic has clouded analysts' ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to...

1 month ago

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Raw Story

'Warning for Trump' as bond markets call bluff on GOP tax cut plan: reports

President-elect Donald Trump has put maintaining his massive 2017 tax cut at the top of his economic agenda, but there are indications that Republicans will have to pay for them with massive spending cuts to the federal budget if they want to avoid triggering major interest rate increases on America...

1 month ago·United States

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Alabama Political Reporter

New study: 6 million jobs will be lost unless Congress renews the Trump tax reforms

Failing to preserve pro-manufacturing tax policies from the 2017 tax reform will cost the U.S. economy nearly 6 million jobs, according to a landmark EY study released by the National Association of Manufacturers. Inaction would cost the U.S. economy more than $1 trillion. The study also shows that the manufacturing industry will bear the brunt of this economic damage if Congress does not act swiftly in 2025. “The time to act is now. Millions of…

1 month ago

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Associated Press News

+11 Reposted by 11 other sources

Trump wants to cut taxes. So do governors and lawmakers in some states

JEFFERSON CITY, Mo. (AP) — President-elect Donald Trump has proposed trillions of dollars of tax cuts for individuals and businesses. In some states, governors and lawmakers are seeking to cut

1 month ago·United States

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Denver Gazette

Trump's US Treasury pick Bessent says extending tax cuts a top priority

(Reuters) - Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the

1 month ago

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thepatriotlight.com

ThePatriotLight - U.S. Economy Faces $1 Trillion Risk if Trump Tax Cuts Expire, Study Warns – Economic Collapse Report

ThePatriotLight - A recent analysis indicates that the U.S. economy could suffer a staggering $1 trillion blow if Congress does not extend the tax cuts implemented by President Donald Trump through the Tax Cuts and Jobs Act (TCJA) of 2017. This warning comes from a study by the National Association of Manufacturers (NAM), highlighting the potential economic fallout if these tax policies are allowed to lapse at the end of 2025. According to the s…

1 month ago

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