| Hello John, When the Trump tax cuts were signed into law in 2017, they didn’t just rewrite the tax code — they changed the game for countless American families and businesses. By lowering income tax rates, doubling the child tax credit, cutting the corporate tax rate, and introducing small business deductions, the Trump tax cuts delivered real results. Here’s how the economy responded in the few short years before the pandemic hit: - $4,992 increase in real wages per worker by 2019
- 2.5% higher gross domestic product than expected, driving economic growth
- 4.9% wage boost for working-class families, outpacing higher-income households
- Record-low unemployment and poverty rates across socioeconomic groups
But here’s the catch — many of the tax law’s most important provisions were time-limited and are set to expire at the end of 2025. If Congress doesn’t act to extend them, the financial progress made from this landmark law could unravel. If the Trump tax cuts expire, the impact will be devastating for working Americans and small businesses alike. Key provisions that will disappear include: - The doubling of the child tax credit (from $2,000 back down to $1,000 per child)
- The near doubling of the standard deduction, which simplified taxes for most families
- The 20% deduction for small business owners, which enabled growth and entrepreneurship
The White House Council of Economic Advisers just released a report highlighting what’s at stake in extending the tax cuts. Their findings are eye-opening. According to the CEA, if the Trump tax cuts are extended: - Worker wages would be boosted by $2,100–$3,300
- The annual take-home pay for a median-income family with two children could grow by $4,000–$5,000
- America would save 4 million full-time jobs and preserve the gains made in Opportunity Zones, which brought billions into low-income communities
These aren’t just numbers. They represent real opportunities for families to thrive, for small businesses to keep growing, and for distressed communities to continue their recovery. On the other hand, if the Trump tax cuts are allowed to expire, it would amount to the largest tax hike in American history — $4 trillion! The typical family of four would see a tax increase of $1,700 a year. Coming on top of Joe Biden’s inflation, Americans cannot afford that. This isn’t about politics. It’s about protecting the prosperity your family and community deserve. As the CEA report states, “Extending the expiring provisions of the [Trump tax cuts] will deliver enormous benefits for the U.S. economy, our workers, and our families.” Congress is deciding whether to extend these life-changing provisions, and they need to hear from you. Tell your representatives to protect families, jobs, and America’s economic future. Act now. Together, we can make sure this historic economic growth doesn’t stop. |
