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The Fox News Rundown

From Washington: What Trump-Era Tax Policy Expiring Means For Your Wallet

The Fox News Rundown

FOX News Podcasts

Politics, Daily News, News

3.41.7K Ratings

🗓️ 5 May 2024

⏱️ 39 minutes

🧾️ Download transcript

Summary

Taxes could soon start looking different for many Americans -- as former President Trump's 2017 Tax Cuts and Jobs Act is set to expire in 2025. President Biden has stated his plans to let the act remain expired if he's still in office at the time, while former President Trump would likely reinstate the act, alongside other Trump-era policies. Former President Trump economic adviser Steve Moore and Chief Economist at Moody's Analytics Mark Zandi break down what the effects of the 2017 Tax Cuts and Jobs Act expiring could be. Congresswoman Marjorie Taylor Greene (R-GA) is urging her colleagues to decide to oust House Speaker Mike Johnson (R-LA) from his position. Next week, she and Congressman Thomas Massie (R-KY) plan to initiate a long-threatened motion to vacate the resolution, setting up yet another vote to send the Speaker packing his bags. Unlike the previous success at removing former Congressman Kevin McCarthy, this move by Rep. Greene is expected to fail – lacking support from both Democrats and Republicans alike. FOX News Senior Congressional Correspondent Chad Pergram provides his insight from Capitol Hill. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Is crypto perfect? Nope, but neither was email when it was invented in 1972 and yet

0:06.3

today we send 347 billion emails every single day.

0:12.0

crypto is no different.

0:13.3

It's new, but like email, it's also revolutionary.

0:17.3

With Krakin, it's easy to start your crypto journey with 24-7 support when you need it.

0:22.4

Go to Krakin.com and see what crypto can be. with 24-7 support when you need it.

0:22.6

Go to Krakin.com and see what crypto can be.

0:25.2

Don't invest unless you're prepared to lose all the money you invest.

0:27.2

This is a high-risk investment and you should not expect to be protected if something goes wrong.

0:30.0

Sunday May 5th, 2024, I'm Jared Halpern. Tax cuts signed by former President Trump

0:40.8

are on the ballot this November.

0:43.0

I think we need right now to be as competitive as possible, pro-growth is possible,

0:47.0

and I don't see how raising, you know, the capital gains tax and the corporate rate would be good for our jobs or growth.

0:54.0

I don't think anybody wants to raise taxes on anybody.

0:56.5

You know, all else being equal, I agree with Stephen,

0:58.6

that that's going to weigh on economic growth.

1:01.3

But it's a choice.

1:03.0

I mean, we've got large deficits in debt.

1:05.6

We got to address that.

1:07.0

And for the second time, in less than a year,

1:09.2

the House is poised to vote on ousting a speaker.

1:13.0

It kind of had, as I predicted a couple of days ago, it was true.

...

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