Please ensure Javascript is enabled for purposes of website accessibility
Mike Pence's Foundation Launches a $10 Million Election-Year Campaign to Preserve Trump-Era Tax Cuts
gvw_ap_news
By Associated Press
Published 12 months ago on
June 20, 2024

Former Vice President Mike Pence's foundation is rallying conservatives to preserve Trump-era tax cuts set to expire, urging a fight for fiscal responsibility. (AP/Doug McSchooler)

Share

Getting your Trinity Audio player ready...

WASHINGTON — Former Vice President Mike Pence’s foundation is launching a $10 million campaign to preserve the Trump-era tax cuts that are set to expire after next year as he presses conservatives not to stray from the fight before the November election.

Advancing American Freedom released a 13-page blueprint Thursday with arguments being made to Capitol Hill and to voters in swing states, particularly in those that could decide control of the Senate.

“We will be urging conservative leaders to join us in this fight,” according to the document.

The group envisions a lengthy campaign that will spin into 2025 when the White House and Congress will have to decide whether to keep the tax code as approved in the 2017 tax law when Republican Donald Trump was president or make adjustments. If nothing is done, many of the individual tax policies would expire after 2025.

Much will depend on power centers in the House and Senate and which party controls the White House.

Proposed Changes to Tax Cuts

Democratic President Joe Biden has proposed keeping the tax cuts for people making under $400,000 a year while raising the corporate rate and introducing higher taxes on the wealthy. Trump, the presumptive Republican nominee for the White House, also wants to keep the tax cuts for many households, but he proposes lowering the corporate tax rate to 20%, from the current 21% rate.

“Washington has a spending problem, not a revenue problem,” Pence said in a statement. “Our national debt is out of control, and taxing the American people more is not the solution.”

Former Sen. Pat Toomey of Pennsylvania, a Republican who was instrumental in crafting the 2017 tax bill, is a strong supporter of the foundation’s campaign to extend the tax policies.

The push comes as Congress has quietly begun workshopping tax policy before next year’s session, when lawmakers must address the issue or risk allowing some of the 2017 policies to expire, potentially raising taxes for many individuals.

The federal balance sheet is in the red, the nonpartisan Congressional Budget Office said this week, with spending outpacing revenue. That is in large part because of the COVID-era outlays, funding for the war in Ukraine and the costs of Medicare, Medicaid and other programs particularly to care for an aging U.S. population.

A CBO report in May estimated that extending the provisions of Trump’s Tax Cuts and Jobs Act would increase deficits by nearly $5 trillion into 2034.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

California’s Battle Against Homelessness Needs a ‘Combined Arms’ Approach

DON'T MISS

Here’s What to Expect at the Army’s 250th Anniversary Parade on Trump’s Birthday

DON'T MISS

Ex-NFL Star Wide Receiver Antonio Brown Facing Attempted Murder Charges in Miami Shooting

DON'T MISS

Fresno State Matches the Scholarships for 25 FUSD Students

DON'T MISS

Trump Says Not Too Late for Iran to Halt Israeli Attacks

DON'T MISS

Clovis Man Sentenced to Probation, Ordered to Pay $656K in Crop Insurance Fraud Case

DON'T MISS

California Opens Investigation Into State Farm

DON'T MISS

Fed to Keep Rates Steady as Tariffs, Possible Oil Shock Counter Inflation Data

DON'T MISS

Ye Makes Surprise Appearance at Sean ‘Diddy’ Combs Trial

DON'T MISS

California Police Are Illegally Sharing License Plate Data With ICE and Border Patrol

UP NEXT

Here’s What to Expect at the Army’s 250th Anniversary Parade on Trump’s Birthday

UP NEXT

Ex-NFL Star Wide Receiver Antonio Brown Facing Attempted Murder Charges in Miami Shooting

UP NEXT

Fresno State Matches the Scholarships for 25 FUSD Students

UP NEXT

Trump Says Not Too Late for Iran to Halt Israeli Attacks

UP NEXT

Clovis Man Sentenced to Probation, Ordered to Pay $656K in Crop Insurance Fraud Case

UP NEXT

California Opens Investigation Into State Farm

UP NEXT

Fed to Keep Rates Steady as Tariffs, Possible Oil Shock Counter Inflation Data

UP NEXT

Ye Makes Surprise Appearance at Sean ‘Diddy’ Combs Trial

UP NEXT

California Police Are Illegally Sharing License Plate Data With ICE and Border Patrol

UP NEXT

Kilmar Abrego Garcia Pleads Not Guilty to Human Smuggling Charges in Federal Court

Fresno State Matches the Scholarships for 25 FUSD Students

43 minutes ago

Trump Says Not Too Late for Iran to Halt Israeli Attacks

55 minutes ago

Clovis Man Sentenced to Probation, Ordered to Pay $656K in Crop Insurance Fraud Case

1 hour ago

California Opens Investigation Into State Farm

1 hour ago

Fed to Keep Rates Steady as Tariffs, Possible Oil Shock Counter Inflation Data

1 hour ago

Ye Makes Surprise Appearance at Sean ‘Diddy’ Combs Trial

1 hour ago

California Police Are Illegally Sharing License Plate Data With ICE and Border Patrol

1 hour ago

Kilmar Abrego Garcia Pleads Not Guilty to Human Smuggling Charges in Federal Court

1 hour ago

Law Enforcement Officers Respond to Reports of Unrest at Migrant Facility

1 hour ago

Where’s the Inflation From Tariffs? Just Wait, Economists Say.

2 hours ago

California’s Battle Against Homelessness Needs a ‘Combined Arms’ Approach

This commentary was originally published by CalMatters. Sign up for their newsletters. World War II was the most massive military conflict i...

29 minutes ago

29 minutes ago

California’s Battle Against Homelessness Needs a ‘Combined Arms’ Approach

31 minutes ago

Here’s What to Expect at the Army’s 250th Anniversary Parade on Trump’s Birthday

37 minutes ago

Ex-NFL Star Wide Receiver Antonio Brown Facing Attempted Murder Charges in Miami Shooting

43 minutes ago

Fresno State Matches the Scholarships for 25 FUSD Students

55 minutes ago

Trump Says Not Too Late for Iran to Halt Israeli Attacks

Photo of aerial view of farming
1 hour ago

Clovis Man Sentenced to Probation, Ordered to Pay $656K in Crop Insurance Fraud Case

1 hour ago

California Opens Investigation Into State Farm

1 hour ago

Fed to Keep Rates Steady as Tariffs, Possible Oil Shock Counter Inflation Data

Help continue the work that gets you the news that matters most.

Search

Send this to a friend