No issue defines the diametrically opposite economic philosophies of Joe Biden and Donald Trump than their position on the Trump tax cuts. Trump wants to make those tax cuts permanent; Biden has repeatedly promised to tax America back to prosperity by repealing the Tax Cuts and Jobs Act. But there are so many factual errors swirling around regarding the Trump tax cuts that it’s a wonder that the “truth screeners” on the internet haven’t flagged this all as “disinformation.”

So, as a public service I will help do their job for them and review “just the facts, ma’am,” using the official government data, on how after five years the tax cuts have impacted jobs, the economy, tax fairness and the simplicity of the tax code.

1. The Trump tax law was one of the biggest middle-class tax cuts in U.S. history. The Trump Treasury Department calculated that the average family of four saves roughly $2,000 a year. This means, sorry, Joe, repealing the bill would raise taxes for most families making less than $400,000. The House Budget Committee has estimated that the typical family will pay $1,500 more taxes annually if Biden repeals the Trump tax cut.

Updated: Tue May 28, 2024