It’s a Bright New Day in Trump’s America
Before Trump even took office, the American economy was breathing a clear sigh of relief. Job creation smashed expectations in December, as employers finished the hiring season strong, optimistic about the end of Bidenomics and the return of the Trump bump. Employers added 256,000 jobs last month, and the unemployment rate fell to 4.1%.
Read more from Alfredo Ortiz on how America is already seeing signs of a Trump economic revival in the Daily Caller.
Then, on day one, Trump showed that he was serious with a flurry of executive orders to undo some of the damage done by the previous administration, including unleashing American energy.
As Alfredo Ortiz told Fox Business, Trump’s two-fold approach of boosting oil and gas production and repealing the Biden Administration’s green energy mandates will make American energy cheaper, reliable, and more efficient. High energy costs and expensive green regulations have fueled historic inflation and high costs that have reduced Americans’ living standards. Trump’s energy actions will reverse these runaway costs and restore American prosperity.
This is an amazing start, but we have a few ideas about what should be next:
Extend and Expand the Tax Cuts
The Tax Cuts and Jobs Act (TCJA) is set to expire at year-end and needs to be extended now. Small businesses need tax certainty to invest, hire, and plan for the future, and the TCJA provided exactly that.
But Congress shouldn’t stop there. They should go even further and expand the TCJA while extending it. To do even more good for Main Street, legislators should raise the existing 20% small business tax deduction to 25%, broaden this deduction to more small businesses, and ensure small businesses receive 100% immediate expensing every year.
Until recently, low taxes were something that both sides of the aisle could agree on. That’s why we’ve been running an ad featuring JFK explaining why tax cuts work.
If you want to be a part of the solution, visit TaxCutsNow.com and send a message to your representatives!
Scrap the Student Loan Handouts
Biden’s proposed student loan bailout in 2022 was one of the most flagrant examples of executive overreach in modern American history. JCNF sued the administration on behalf of two plaintiffs, and our lawsuit played an integral role in the Supreme Court’s June 2023 decision to strike down the program.
Unfortunately, a Supreme Court ruling was not enough to deter Biden, who then pursued a series of workarounds in a naked (and ultimately fruitless) vote-buying attempt.
Elaine Parker explains why ending Biden’s student loan bailouts is the right move from a legal, moral, fiscal, economic, and college cost perspective in Newsweek.
Restore Medical Innovation
On the way out of office, the Biden administration took one more jab at U.S. patients, announcing a new group of prescription drugs that will fall prey to government price controls—including the popular diabetes medication, Ozempic.
This was done under the 2022 so-called “Inflation Reduction Act” which allowed the government much greater control over drug prices. Lower drug prices may sound nice in theory, but artificially low prices severely hamper drug companies’ ability to innovate. The result is that patient access to cutting-edge healthcare is being compromised.
If Trump and his team really want to Make American Healthy Again, they should push for reforms that restore the country’s innovative medicine supply chain.
JCNF Partner Dr. Chris Stansbury explains more in RealClear Health.
As always, thank you for your support, and we hope to see many of you at our Summit & Gala in April.
