Internet divided over White House criticizing GOP's plan to extend Donald Trump-era's corporate tax cuts

WASHINGTON, DC: The White House has sharply responded to reports that Republican lawmakers are gearing up to extend tax cuts from the first Trump administration and lower corporate tax rates if the GOP wins control of the White House and Congress in the upcoming November elections.

The response comes after a memo from Andrew Bates, deputy press secretary, cited a report from the Washington Post saying lawmakers of the Republican Party and some Trump advisers are considering further corporate tax breaks should the party regain control of the government next year.

How did the White House react to GOP plans?

In a memo, Bates wrote, “Today’s Washington Post story makes it impossible to ignore the enormous contrast between President Biden’s agenda to rebuild the middle class and MAGAnomics."

“Republican officials who back MAGAnomics stand up for price gouging, tax giveaways for the rich, and across-the-board tariffs that would all raise prices, and they’d sell the middle class out with a skyrocketing deficit and cuts to Medicare and Social Security,” he noted.

What is the Tax Cuts and Jobs Act?

Enacted in 2017, the Tax Cuts and Jobs Act reduced the corporate tax rate from 35 percent to 21 percent and lowered individual tax rates.

While the individual tax cuts are set to expire in 2025, the reduction in the corporate tax rate was made permanent under the law.

Republican lawmakers are reportedly preparing to speed up the extension of the Trump-era's tax cuts using the budget reconciliation process.

GOP officials claimed that the corporate tax rate reduction would result in an increase in the global competitiveness for business in the country, according to The Hill.

The budget reconciliation process allows significant tax and spending legislation to pass with a simple majority, bypassing the need for bipartisan support.

Warnings from economists has been highlighted by the White House as they cite the experts who said that further corporate tax cuts, coupled with other Trump-era proposals including imposing tariffs on all imports into the US, could trigger a surge in inflation and further increase the national debt.

Internet doubles down on White House criticizing GOP plans to extend Donald Trump-era tax cuts

Reacting to White House hitting GOP's reported tax cut preparations, one user on X (formerly Twitter) wrote, "And thats a good thing. Joe Biden is gonna raise your taxes a lot. He brags about it."

"Either the government gets bigger, or the economy gets bigger. I pick the economy. Trump 2024," a netizen commented while another user wrote, "Yeah the gop only cares about the rich they could give a shit about the average American."

"Bidens like no no no. He plans to screw Americans over," one user tweeted.

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.