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Washington wins, Main Street loses: The cost of letting tax cuts expire
The American people are on the verge of a massive tax hike — if Congress doesn’t act.
That’s because many of the 2017 Trump tax cuts will expire at the end of this year, hitting 6 in 10 Americans with higher taxes, forcing millions of American families to tighten their budgets, and harming thousands of small businesses.
While hardworking Americans struggle, some groups stand to benefit from Washington’s reckless spending.
WHO WINS? CORPORATE CRONIES AND RECKLESS POLITICIANS
Remember that Washington’s debt isn’t a revenue problem — it’s a spending problem.
Since the Trump tax cuts were passed in 2017, federal revenues (as a share of GDP) have remained at the 30-year historical average. Spending, however, rose above average and worsened the national debt.
As a result, the national debt has skyrocketed to $36 trillion, and in 2024, interest payments surpassed defense spending. To make matters worse, interest payments are the fastest-growing part of the federal budget, so expect this number to climb over the years.
And where does this money go?
Well, big chunks of it go directly to the pockets of corporate cronies. For example, during its four years in office, the Biden administration sent $341 billion to non-traditional energy companies.
Even more, hundreds of billions of your tax dollars are wasted in “improper payments,” funds lost due to fraud, errors, or mismanagement. In 2024 alone, the federal government admitted that $236 billion (around $700 for every American) was lost this way.
If Congress doesn’t extend the Trump tax cuts, the people who created this broken system and those who benefit from it are the ones who stand to win the most.
Why should we pay for Washington’s reckless behavior? Why should the American taxpayer line the pockets of special interests, corporate cronies, and fraudsters?
MOM-AND-POP SHOPS, EVERYDAY AMERICANS STAND TO LOSE
If corporate cronies and the people who abuse a broken system are the ones who stand to gain from revoking the Trump tax cuts, then who stands to lose?
Millions of everyday Americans and thousands of small businesses.
If Congress decides to nix the Trump tax cuts, the average American family of four will pay around $1,500 more in income taxes yearly.
Almost all income brackets would see their taxes go way up, meaning you’ll have to pay the federal government hundreds or thousands of dollars extra — just when Americans are recovering from the historically high inflation of the Biden years.
Mom-and-pop shops are also in the line of fire.
Many small business owners report their companies’ revenues on their personal income taxes. If Congress allows the tax cuts to expire, they’ll have to pay more taxes on their small businesses.
Starting a new business is tough. The disastrous policies of the Biden administration made it much more difficult. If Washington raises taxes, thousands of businesses won’t be able to survive.
Fewer businesses mean fewer jobs and a smaller economy for all Americans.
Letting the Trump tax cuts expire will bring financial hardship to millions of Americans and force thousands of mom-and-pop shops out of business while funneling trillions of dollars into a broken system.
If you want to join the nation’s largest grassroots army dedicated to defending freedom and protecting prosperity from a looming tax hike, click here and learn more.
