Buzzetti Urges GOP to Prevent Expiration of America First Tax Cuts

President Donald J. Trump’s first major accomplishment after being sworn in as our nation’s 47th chief executive was signing the Tax Cuts and Jobs Act (TCJA) of 2017.

This legislation benefited American families and workers by creating the strongest economy in the history of the world, unlocking American innovation to ensure America stays ahead of China, encouraging family growth with the Child Tax Credit, and protecting American manufacturing jobs from being shipped overseas through smart changes to the tax code.

However, many provisions from President Trump’s TCJA are set to expire, and Congress must take urgent action to secure these America First tax provisions.

As Bidenomics continues to punish American workers and families with lower wages, higher interest rates, and rising grocery and gas costs, Republicans cannot allow these America First tax provisions to expire.

By extending the Trump tax cuts, Congressional Republicans will help limit the damage Biden is doing to the economy while also laying a strong groundwork for the next Republican President to build on.

The Child Tax Credit, Research and Development (R&D) Expensing, and Equipment Expensing all help advance key priorities of the America First agenda, including incentivizing family growth, protecting American manufacturing, and staying ahead of China.

Extending the Child Tax Credit will further incentivize family formation and expansion, ensuring that American values continue to be passed onto future generations.

The R&D (Research and Development) expensing provisions incentivize investment in R&D, ensuring that America remains the leader in innovation and stays a step ahead of China.

Extending the equipment expensing provisions will help protect American manufacturing jobs from being exported to China and encourage increased expansion of manufacturing facilities in the U.S. by reducing the tax burden on manufacturers looking to buy equipment in the U.S.

Nearly 3.7 million jobs have been offshored since 2001, and leveraging good, sound tax policy at home will allow the U.S. to remain a global leader, even in the face of strengthening adversaries abroad.

President Biden has failed on this front, punishing American families and hurting American innovation while being more focused on pursuing Chinese Communist Party (CCP) style censorship rather than focusing on the threat that China poses to our national security.

Congress must take swift action to boost American innovation and manufacturing, while also taking steps to ensure that American families are more financially secure through extending the pro-growth and pro-family tax cuts from the TCJA.

Preserving the legacy of President Trump’s America First Agenda will help to ensure that future generations of Conservative leaders can continue to build on America First values and expand our movement across the country.

By reauthorizing and extending the Trump tax cuts, Congress can ensure that the next Republican president can continue to advance a bold policy agenda for a brighter American future.

Aiden Buzzetti is the president of the Bull Moose Project