Former President Donald Trump said Tuesday that Senate Republicans should not forfeit the tax cuts he instituted during his time as head of state.
The “TRUMP TAX CUT, the largest in the history of our Country, is what made our economy grow and great,” Trump said in a statement.
“Democrats want major tax increases to pay for their fake infrastructure bill, where over 90% of the money goes to the ridiculous Green New Deal nonsense, which will destroy our economy,” he continued.
He added that “the tax cuts were a great achievement of the Trump Administration and the Republican Party. More importantly, they were a great victory for our Nation.”
The “TRUMP TAX CUT” refers to the 2017 Tax Cuts and Jobs Act (TCJA) that Trump signed into law. The TCJA slashed federal corporate tax rates from a once high 35% to 21% and decreased the tax burdens carried by the American middle class.
“Do not increase them one penny. Republicans must learn to fight these vicious, Radical Left Democrats who are destroying lives and destroying our Country!” the former President said.
As Democrats pursue their infrastructure plan, Trump fears the loss of some of the tax cuts he helped institute.
One year ago, I announced my Build Back Better Agenda. We’ve made incredible progress with our Rescue Plan, COVID response, and infrastructure negotiations — but we’re not done yet.
We must pass the remainder of my agenda to rebuild an economy that works for every American.
— President Biden (@POTUS) July 9, 2021
A day before Trump’s comments, the U.S. Senate returned Monday to the topic of President Joe Biden’s infrastructure spending plan after a two-week recess, Reuters reported.
Republicans have vowed to mount “a hell of a fight” against any attempt to mount a heavy tax burden on the backs of American taxpayers to finance the Biden administration’s spending plans.
“This is going to be a hell of a fight. … This is not the right thing to do for the country,” Republican Senate Minority Leader Mitch McConnell said as he cautioned against Biden’s corporate tax hike plans, according to Reuters. (RELATED: What Does A GOP Nightmare Scenario Actually Look Like Now That Dems Control Congress?)
Republican Ohio Senator Rob Portman said to The New York Times, that Republicans should move forward to work with Biden on a bipartisan infrastructure plan.
The infrastructure plan, born out of a bipartisan agreement endorsed by Biden on June 24, will cost taxpayers $1.2 trillion over the course of eight years, $579 billion of which is fresh spending, Reuters reported.
As part of the plan, the government will use the tax burden it creates for taxpayers to fund expenses such as $109 billion of taxpayer money for roads and bridges. It also proposed $73 billion on electricity infrastructure, $66 billion on passenger and freight rail, and $7.5 billion on electric vehicle infrastructure, such as chargers for electric vehicles.
