Biden’s tax deception: One more thing our president gets wrong

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In a recent post on X, President Biden stated, “Donald Trump was very proud of his $2 trillion tax cut…. That tax cut is going to expire. If I’m re-elected, it’s going to stay expired.” I’m unsure who writes these tweets for the president, but I hope it’s not anyone on his economic team – because this is just wrong. 

Biden’s $2 trillion shortfall claim apparently originated in a May 2020 Tax Policy Center article. The article reported that, in late 2017 and early 2018, the Joint Committee on Taxation (JTC) and the Congressional Budget Office (CBO) estimated that President Trump’s Tax Cuts and Jobs Act (TCJA) would “substantially” reduce revenues and increase “deficits over its first

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