Project 2025’s tax reform plan could cost you thousands of dollars

Inequality will be worse under Project 2025 Problems viewing this email? [View it in your browser]( [Center for American Progress]( InProgress from the Center for American Progress To make sure you never miss an email from us, please add progress@americanprogress.org to your contacts or safe senders list. Thanks for staying connected with us! Project 2025 would raise taxes on the middle class [A mother and daughter hold hands as they leave a nursing facility in Cozad, Nebraska, on December 3, 2019. ]( Photo: Getty Images/Michael S. Williamson After another Labor Day spent celebrating the contributions and achievements of American workers, far-right extremists have introduced a glaring threat to the security and livelihood of everyday Americans. The far-right authoritarian playbook [Project 2025]( presents a set of dangerous policy proposals that, if enacted, would undermine and harm American workers. From cutting overtime pay to weakening protections against workplace discrimination, [many facets of American life]( would be purposefully transformed to shift power away from millions of workers and into the hands of corporations and the wealthy. Project 2025’s proposed tax reform plan is no exception. [Large majorities]( of Americans already worry that the tax system is unfair because the wealthy and corporations pay less than their fair share. Under this new tax reform plan, economic inequality would worsen, tipping the scales so that everyday Americans would pay more in taxes while corporations and the wealthy would see their tax burden decrease. The plan calls for both an “intermediate tax reform,” which would alter the tax bracket system, and a “fundamental tax reform,” which would raise taxes on low- and middle-income households by [as much as $5,900]( in order to finance tax cuts for the wealthy and large corporations. [Learn More]( We can answer your questions about Project 2025 As the Center for American Progress’ policy experts [break down]( how Project 2025 policies will harm all Americans, we invite you to submit your outstanding questions about this extreme agenda. We're here to provide you with the answers and clarity you need. [Submit Your project 2025 question]( CAP is dedicated to unpacking what Project 2025’s policy proposals would actually mean for everyday Americans. Sign up for our Spotlight Project 2025 newsletter to stay updated. [Stay Informed on Project 2025]( New video: Feeling the late summer heat? From Chicago to Washington, D.C., Americans experienced another [heat wave]( last week that neared record highs. Worsened by climate change, extreme heat kills more people than any other type of severe weather or climate disaster and leads to thousands of heat-related injuries and illnesses each summer. CAP’s Associate Director for Public Health Policy [Marquisha Johns]( breaks down how climate change and rising temperatures affect the most vulnerable communities: [Headlines from NASA, Forbes, and Washington Post reporting days of extreme heat this summer. ]( [Watch on INSTAGRAM]( [WAtch on tiktok]( NEW FINDINGS: Trump tax cuts ➡️ record-low revenues [Notes are seen on the desk of then-President Donald J. Trump during an event to sign into law the Tax Cuts and Jobs Act on December 22, 2017, in the Oval Office of the White House in Washington, D.C. ]( Photo: Getty Images/Brendan Smialowski The tax legislation that former President Donald Trump signed in December 2017 significantly reduced federal revenues, with the largest tax cuts going to the richest Americans. A new [issue brief]( from CAP finds that: - Federal revenues remain below the levels that were projected before the enactment of the tax law—regardless of whether measured as a percentage of the economy, adjusted just for inflation, or adjusted for both inflation and growth in the adult population. - Revenues as a percentage of the economy are particularly low given the strength of the economy. - Other politicians have cited increases in nominal revenues relative to pre-tax cut projections as evidence that the Trump tax cuts increased revenues. But much of this reflects other factors such as COVID-19 policies and higher-than-expected inflation. With a significant portion of the Trump tax cuts set to expire at the end of next year, 2025 presents an opportunity for Congress to improve the tax code, both to make it fairer and to raise revenues to invest in American families and communities. [Read More]( ICYMI: Protecting our green future Earlier this month, CAP President and CEO [Patrick Gaspard]( sat down with Michael Regan, the administrator of the U.S. Environmental Protection Agency, and Derrick Johnson, president and CEO of the NAACP, to discuss the Biden-Harris administration’s historic progress in tackling climate change and environmental and social injustice. Catch up: [CAP CEO Pastrick Gaspard discusses the Biden-Harris Administration's effort to tackle climate change.]( [Watch Now]( Follow us on [Follow us on Twitter]( [Follow us on Facebook]( [Follow us on YouTube]( [Follow us on Instagram]( [Support CAP]( [Manage Email Preferences or Unsubscribe]( [Privacy Policy]( [Center for American Progress]( Center for American Progress 1333 H Street NW Washington, D.C. 20005 [supporter]