Tax Reform

Fox Business: State Lawmakers Push to Extend Trump-Era Tax Cuts

Millions of Americans will pay a lot more in taxes.

Reporting live from Capitol Hill, Hillary Vaughn of Fox Business explains why members the American Legislative Exchange Council (ALEC) traveled to Washington, DC for a meeting with congressional leaders. 

As key TCJA provisions approach expiration in 2025, ALEC leaders made their way into Washington, DC, to hand-delivered a letter signed by more than 350 legislators from 43 states to House Ways & Means Chairman Jason Smith.

The letter – underscoring the necessity of these measures to protect American taxpayers, bolster economic growth, and sustain the nation’s global competitiveness – was shared with several leaders including House Oversight Committee Chairman James Comer, and House Judiciary Chairman Jim Jordan.

“With leaders from across the nation, we stand united in support of the economic expansion and entrepreneurial revitalization fostered by the TCJA,” said ALEC CEO Lisa B. Nelson. “As American taxpayers grapple with the repercussions of current economic policies, we urge Congress to transcend partisan divides and prioritize the welfare of the American people.”

A majority of Americans support making the Tax Cuts and Jobs Act of 2017 permanent. Allowing it to expire would result in a massive tax increase on hardworking American taxpayers, a significant decline in American competitiveness, fewer jobs, reduced wage income for workers, and higher prices.

You can watch the full video here.

In Depth: Tax Reform

Mainstream economists, small business owners and taxpayers across the country understand that growth-oriented reforms mean increased opportunity for all. As demonstrated by the annual Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, sound tax and fiscal policies are critical to economic health, allowing businesses and households to flourish. A…

+ Tax Reform In Depth