Biden Signals Tax Hike If Re-Elected As Americans Struggle From His Inflation Crisis The Daily Wire
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PresidentJoeBidensignaledonWednesdaythatifhewinsre-electionthisfallthatAmericansshouldexpecttoseeanincreaseintheirtaxes,whichcomesasmanyarestrugglingfromthehighinflationratesthathavedefinedBiden’spresidency.
“DonaldTrumpwasveryproudofhis$2trilliontaxcutthatoverwhelminglybenefitedthewealthyandbiggestcorporationsandexplodedthefederaldebt,”BidenclaimedinapostonX.“Thattaxcutisgoingtoexpire.IfI’mre-elected,it’sgoingtostayexpired.”
AreportfromtheTaxFoundationlastmonthexplainedthatCongresshaslessthantwoyearstoprevent“thevastmajority”ofAmericansfromgettinghitwithtaxhikes.
ThelawthatBidenwantstoletexpireistheTaxCutsandJobsAct(TCJA)of2017,alawthatsimplifiedtaxesandreducedtaxes“acrosstheincomespectrum,”thereportsaid.
“TheTCJAreducedaveragetaxratesfortaxpayersatallincomelevelsbecauseitloweredmarginaltaxrates,widenedtaxbrackets,doubledthechildtaxcreditandzeroedoutpersonalanddepende
