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Happy New Year
John,
As we now close the books on 2025, we thought you might like a quick review of our activities and impact for the year.

Of course, our major accomplishment was working closely with the White House and the House and Senate to help pull the Big Beautiful tax bill over the goal line.

It’s hard to believe that it was 9 years ago that Arthur Laffer, Larry Kudlow, and I met with then presidential candidate Donald Trump in Trump Tower on 5th Avenue to hammer out the first version of what became the Trump tax bill. It’s amazing how many of the planks of that original plan drafted on a legal pad are now the law of the land. The reduction in the corporate tax rate, the across-the-board cut in income tax rates, the immediate expensing of capital purchases for businesses, the death tax relief, and the curtailment of the State/Local tax deduction.

Speaker Mike Johnson wrote us a letter saying that he couldn’t have gotten that tax bill through the House (by one vote) without UP’s heavy-lift efforts.
We’ve had some other significant victories throughout the year. We almost single-handedly defeated a $100 billion UN tax on American shippers (that no one was paying any attention to). Our transportation expert Wendel Cox was the lead scholar that killed the $100 billion California high speed rail boondoggle project. (We hope it STAYS dead!)

John Fund’s clean elections project has helped tighten the screws on fraudulent mail in voting and has forced states to clean up their voter registration rolls.

This past summer, we unveiled our one-of-a-kind VoteWithYourFeet.net ([link removed]) website. If you haven’t visited it, we urge you to do so. The site is a tool that allows journalists, scholars, demographers, and people who just want to get out of blue states all the statistics on where people are going and how much money they are taking with them. It chronicles the greatest wealth transfer in American history – the massive migration from high-tax blue states to low-tax red states. California and New York have lost nearly 3 million people over the past decade and more than $1,000,000,000,000 to Florida and Texas.

We held press conferences in DC with Virginia governor Glenn Youngkin and in Florida with Governor Ron DeSantis – the big winner in the relocation sweepstakes.

Our latest update to Pension Politics was widely covered in the media, and we were highlighted in a Wall Street Journal exclusive editorial. ([link removed]) In the three years we have been covering this topic, voting for ESG initiatives has fallen from 60% to 30% among the big banks. We consider that a fantastic success.
We’ve been invited to the Oval Office many times this year to provide advice on key issues to President Trump and his economic team. Few other groups have this kind of inside access.

Now, let’s review some more of our Unleash Prosperity highlights from the closing days of 2025 and do some more year-in-review.

Just last week we published a study by our senior fellow EJ Antoni on the 401k returns this year with the average account adding nearly $23,000 to their balance after inflation. This compared with a $20,000 LOSS in real valuations in the four years of Biden. The report was highlighted in the New York Post and on Fox News.

Hotline Hits This Month:
* Public Support for Higher Ed Is Tumbling ([link removed]) (12/2/25)
* Coffee Tariffs are Suspended and Prices are Suddenly Falling ([link removed]) (11/24/25)
* 86% of all Inflation since 2020 was under Biden ([link removed]) (11/18/25)


** Top Media Hits This Month:
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* Tariffs Can Make Work Pay Again ([link removed]) (12/3/25)
* Why Johnny can't read ([link removed]) (12/17/25)
* If Young People Want More Affordability, They Should Get A Job ([link removed]) (12/1/25)


** End of Year Media Blitz:
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Steve Moore’s CPI predictions come true in real time on Mornings with Maria

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Tim Doescher opines on Affordability and Mamdani’s socialist approach on FBN’s Kudlow

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Steve Moore joins Sean Hannity to give an overview on US economic standing and data

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Steve Moore discusses the OBBBA on Mornings with Maria panel
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Steve Moore Gives Remarks during joint press conference with Governor Ron DeSantis
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Tim Doescher, with Tomas Philipson, discusses prices in the lead up to Thanksgiving ‘25
UP & UP Now End of Year Update
Staff Changes
We were sad but proud to lose much of our valued staff to the incoming Trump administration over the course of this year, sending our talent to places like the Treasury Department, the Labor Department, the Small Business Administration, and the Transportation Department.

At the same time, we have been privileged to find new staff and partnerships, including with top Healthcare expert, Tomas Philipson, and renowned economist, Richard Vedder. We continue to fill out positions at UP to support our growing mission, and are excited to see what they will accomplish in 2025.

In addition to our staff changes, we are proud to announce that Bob Nardelli, former CEO of Home Depot, has joined our Unleash Prosperity board.
Media & Impact
This year, the team at Unleash Prosperity once again crushed our earned media numbers. In 2025, we amassed an estimated earned media value of over $1.1 billion with 65,000 media mentions and appearances. We could not be more proud of the impact UP has had in the media, as the numbers do not tell the whole story. We’ve helped lay out the economic arguments for the tax cuts ([link removed]) in the One Big Beautiful Bill, ended Federal subsidies for California's Railroad to Nowhere ([link removed]) , released the plan to unlock America’s $12 trillion mineral reserve treasure chest ([link removed]) , and called out poor data collection methods at the Bureau of Labor Statistics
([link removed]) .
Our daily Hotline continues to be an important daily newsletter for tens of thousands of the country’s most plugged-in readers, and even gets an endorsement from Fox News’s David Asman ([link removed]) . We believe the sky is the limit for UP, and look forward to seeing our impact reach new heights in the new year.
Events
UP’s impact has been felt not only on the airwaves and in the press, but in person as well. We want to thank everyone who has attended an event we’ve hosted or spoke at this year, whether that is a Laffer dinner, a speaking engagement, or one of our special announcement events.

In 2025, we hosted 8 Laffer Curve Dinners, 8 Grassroots Policy Events, launched our new website votewithyourfeet.net ([link removed]) with Virginia’s Governor Glenn Youngkin, hosted working events through our Tax Cut Victory Alliance, and much more. We’ve had the honor of hosting, in addition to Governor Youngkin and Governor DeSantis, individuals like Senator John Thune, Treasury Secretary Scott Bessent, and House Speaker Mike Johnson.

One of the greatest highlights of our year was, as mentioned before, when President Trump honored myself and Unleash Prosperity by calling an impromptu press conference while we were in the Oval Office. It was a pleasure to present our updated income numbers for both President Trump and the media!

We know 2026 will create many more opportunities for us to join our friends and allies, and we cannot be more excited to announce these events as the time comes.

We have had an amazing year here at Unleash Prosperity, in large part thanks to all of our wonderful supporters. As we prepare for next year and take stock during this Holiday season, we wanted to express our gratitude for another fantastic year. Thank you!

We look forward to sharing our full report on our Activities and Accomplishments in 2025 with you all in the coming weeks, and cannot wait to hear your feedback and ideas for 2026.

Also, since it is the season of giving, we think your friends and family should receive the Hotline ([link removed]) . Feel free to send them the link to sign up! ([link removed])

There’s so much more we look forward to accomplishing in the new year through Unleash Prosperity. As we look ahead towards yet another election year, we could not be more excited for what is in store.

If you have any questions, comments, ideas, advice, or want to learn more about how you can support the work we do at Unleash Prosperity, please send me an email at [email protected] (mailto:[email protected]) .

In Liberty,
Steve Moore
Co-Founder, Unleash Prosperity

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