Tax Cuts and Jobs Act

SOURCE www.breitbart.com
President Biden is facing challenges in extending the Trump tax cuts, with moderate Senate Republicans refusing to vote on a tax deal that would keep the cuts in place. Passing the Tax Relief for American Families and Workers Act is crucial for American competitiveness with China and economic growth.

Key Points

  • Passing the Tax Relief for American Families and Workers Act is crucial for extending the Trump tax cuts
  • The bill aims to enhance American competitiveness, boost job creation, and promote new investment and innovation

Pros

  • Enhances American competitiveness with China
  • Boosts job creation and increases wages for workers
  • Promotes new investment and innovation

Cons

  • Risk of raising taxes on American businesses
  • Disagreement over provisions like expanding the Child Tax Credit