Karoline Leavitt Outlines ‘The Largest Tax Cuts in History for Middle Class Working Americans’ [WATCH] |​ RVM News

The Trump administration has unveiled a comprehensive tax plan aimed at delivering significant relief to middle-class Americans while closing tax loopholes frequently used by Wall Street executives and billionaire sports team owners.. During a press briefing on Tuesday, White House Press Secretary Karoline Leavitt outlined the details of the proposal, emphasizing the administration’s commitment to reducing the tax burden on working Americans.. Jan 28th 2025 the first White House Press Briefing By press Secretary Karoline Leavitt .talked to the press on some changed to the press Briefing. “These are the tax priorities of the Trump administration that the president has laid out for members in that meeting today,” Leavitt stated.. Dennis Quaid’s #1 Warning for Americans. At the core of the plan is the elimination of federal taxes on tips, Social Security benefits for seniors, and overtime pay.. These measures reflect key promises President Donald Trump made on the campaign trail.. Additionally, the proposal seeks to renew the middle-class tax cuts established under the 2017 Tax Cuts and Jobs Act (TCJA), which are set to expire at the end of the year.. The administration is also addressing concerns over the state and local tax (SALT) deduction cap, a provision that has sparked debate, particularly in high-tax blue states.. Are You Confident The Economy Will Improve Under Donald Trump’s Leadership?. Email Address (required). By completing the poll, you agree to receive emails from RVM News, occasional offers from our partners and that you’ve read and agree to our privacy policy and legal statement.. One of the most notable aspects of the proposal is the closure of the carried interest loophole, which has allowed hedge fund managers to pay lower tax rates on their earnings.. The plan also eliminates tax deductions for billionaire sports team owners.. “These tax cuts will be the largest in history for middle-class working Americans,” Leavitt emphasized.. “The President is committed to working with Congress to get this done.”. President Trump and congressional Republicans are moving forward with their tax agenda, prioritizing the extension of the 2017 individual tax cuts before they expire.. If extended, these cuts are projected to increase the federal deficit by approximately $4 trillion over the next decade.. The administration is also proposing further tax reductions, including lowering the corporate tax rate to 15% for domestic production.. The goal is to stimulate investment and strengthen American manufacturing.. However, these proposals have caused division within the Republican Party.. While the administration advocates for making the tax cuts permanent, some House Republicans have expressed concerns over the long-term fiscal impact.. Instead, they are pushing for a more cautious five-year extension.. Financing these tax cuts remains a major challenge.. Some lawmakers argue that government spending reductions, including potential cuts to Medicaid, may be necessary to offset revenue losses.. Others worry about the potential impact on the national debt.. President Trump met with congressional Republicans on Thursday to discuss a comprehensive legislative package aimed at tax reform, regulatory reduction, and spending cuts, according to The Associated Press.. House Speaker Mike Johnson (R-LA) is working to secure passage in the House by April, but the administration faces internal disagreements and the challenge of a narrow Republican majority.. As the economy continues to recover from the effects of Biden-era policies, the Trump administration is pushing forward with its tax agenda.. Whether Congress will align with the White House’s proposals remains to be seen.

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