...I'll break it down for you  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏
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Hello John,

‌

As you probably know, important parts of President Trump’s historic Tax Cuts
and Jobs Act will expire at the end of the year unless Congress renews them.
The TCJA boosted the economy pre-Covid, with 5 million jobs created and median
incomes up 8.5%. In the long term,investment
<[link removed]>
in the United States is expected to rise by 7.4% as a direct result of the
Trump tax cuts.

‌

Renewing the Trump tax cuts is a crucial job facing the new president and
Congress.

‌

Why? Because we can’t begin to get this economy moving if Americans are hit
with a $4 trillion tax hike (over 10 years).

‌

Imagine paying higher taxes on top of Joe Biden’s higher prices — no thanks.

‌

Tax policy can be complex, but it has huge implications for your finances.

‌

Here are the important tax provisions that will expire without congressional
action and what’s at stake for you if Congress allows that to happen:

* Individual income tax rates: The TCJA lowered income tax rates across all
income levels, giving households more disposable income to save, invest, or
spend and helpingmom-and-pop businesses grow. Letting the rates go back up
would mean less money in our paychecks and higher prices at the store — and we
don’t need either.
* Standard deduction: To reduce taxes and simplify the tax code, the TCJA
increased the standard deduction and eliminated personal exemptions. This
change was especially beneficial tolow- and middle-income individuals.
* State and local tax deduction: The TCJA limited to $10,000 the amount that
could be deducted for state and local taxes. If this provision expires, all
state and local property taxes and income or sales taxes will be deductible,
primarily benefitting high-income taxpayers in just four states — California,
Illinois, New Jersey, and New York — and making it easier for politicians in
blue states to maintain their tax-and-spend ways.
* Small business rates: Mom-and-pop businesses are usually organized so that
the owners report their business income on their personal tax returns and pay
taxes based on individual tax brackets. Letting the Trump tax cuts expire would
raise individual tax rates, increasing taxes on small business owners and
leaving them with less to reinvest in their businesses or hire more workers.
* Alternative minimum tax: The TCJA increased the AMT exemption amounts and
raised the income levels at which the exemptions phase out, resulting in fewer
taxpayers liable for the AMT. If this provision of theTCJA expires, the 2026
AMT exemption for married couples filing jointly will be about $110,075,
compared to about $140,300 if the provision is extended.
* Death taxes: The TCJA doubled the estate tax exemption. If this provision
expires, the exemption will go down to about$14.3 million for married couples,
compared to$28.6 million now. Americans spend a lifetime working to leave
something for their families only to see heirs sell it all just to pay Uncle
Sam. That’s just wrong.
The TCJA delivered lower taxes for hardworking Americans and supported
economic growth. But these benefits are under threat.

‌

Now you know what’s at stake in the fight to keep the Trump tax cuts. You’re
going to hear a lot from the left about “tax cuts for the rich” and “paying
their fair share” and a lot of other nonsense.

‌

The truth?

‌

The TCJA has helped everyday Americans keep more of their earnings and pursue
their dreams.

‌

✍️ Can you take one minute to sign our letter
<[link removed]>
to tell your lawmakers to keep taxes low?

‌

It’s your money. You earned it. And you need it to help chase your American
Dream.


Sign the letter
<[link removed]>

Best regards,

‌

Joe Eule

Americans for Prosperity















Americans for Prosperity believes freedom and opportunity are the keys to
unleashing prosperity for all. We are a community of millions of concerned
citizens advocating for solutions based on proven principles to tackle the
country's most critical challenges.






Americans for Prosperity

4201 Wilson Blvd, Suite 1000

Arlington, VA 22203



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