'What a Racket': CBO Finds Extending Trump Tax Cuts Would Shrink US Economy

December 5, 2024

The nonpartisan Congressional Budget Office projected Wednesday that extending provisions of the 2017 Trump-GOP tax law that are set to expire at the end of next year would shrink the U.S. economy over the long run, a finding that came as Republicans planned to move ahead with another round of regressive tax cuts within the first 100 days of the new Congress.

"President-elect Trump campaigned as a champion of the working class but his first act will be tanking the economy and throwing workers under the bus to line the pockets of his wealthy friends," said Lindsay Owens, executive director of the Groundwork Collaborative. "The Trump tax scam is back for its second act, and Americans should brace for impact."

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