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Project 2025 is a proposal to reinvent our government. While Donald Trump has distanced himself from the plan, it was written by his close associates. This is part of our series intended to provide food for thought, and highlights how the plan would affect our lives.
Taxes and You
Are you concerned about taxes?
Taxes cut into our pocketbooks and affect our budgets. They also fund government services. Every election cycle we hear a lot about tax reform. Below are just a few Project 2025 goals that could affect our taxes.
- Project 2025 proposes only two flat rates of 15% and 30%. This would raise taxes for middle class families. [page 696]
- Tax deductions and credits would be eliminated for the middle class. [page 696]
- Corporate tax rates would be reduced to 18%, increasing the deficit and lowering revenue available to pay for services for citizens. [page 696]
- The capital gains rate would be lowered to 15%, benefitting the wealthy and adding to the deficit. [page 696]
- Employers would pay a tax on workplace benefits (such as family health insurance) over $12,000 per worker. To reduce this, employers would likely cut back benefits to save on taxes, shifting the financial burden to workers. [page 697]
- Project 2025 suggests the possibility of a consumption or a national sales tax, replacing all individual and corporate income taxes, boosting the cost of anything you purchase. [page 698]
- Repeal the Inflation Reduction Act of 2022. [page 465]
(Page numbers are included if you would like to read more at: https://static.project2025.org/2025_MandateForLeadership_FULL.pdf.)
On November 5th, VOTE for what matters to you.
