Commentary

Renewing Trump Tax Cuts Crucial to America's Economic Strength

By Veronique de Rugy
Thursday, January 23 2025

The Trump tax cuts are set to expire later this year, and that poses a real challenge for policymakers, businesses and taxpayers alike. Americans face a $4 trillion tax hike as key provisions of the 2017 Tax Cuts and Jobs Act sunset. The stakes are too high to ignore, and it has to be done right. Failure to make most of the cuts permanent would be detrimental to economic growth, something we can ill afford. And while Republicans control the White House, House and Senate, the path is fraught with political and fiscal obstacles. For budgetary reasons, the tax reductions were made temporary. These…

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