Trump-Vance Project 2025 Agenda: An “Inflation Bomb” to to Hike Costs for Hardworking Families Arrow

Reminder: No matter what Trump says, Project 2025 is an "undeniably Trump-driven operation."

FACT: The Trump-Vance Project 2025 agenda would risk supercharging inflation while giving tax breaks to billionaires and big corporations at the expense of America's middle class.

The Atlantic: "Trump's Plan to Supercharge Inflation"

Axios: "Trump's inflation bomb: How his second-term plans could make it worse"

Axios: "Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November."

Wall Street Journal: "A drumbeat of reports from Wall Street economists have warned that Trump's plans could substantially slow economic growth while driving up consumer prices."

Center for American Progress: "Project 2025's Tax Plan Would Raise Taxes on the Middle Class and Cut Taxes for the Wealthy"

"In [Project 2025], far-right extremist plans are outlined that raise taxes on low- and middle-income households to finance tax cuts for the wealthy and large corporations. Project 2025's tax plan includes an 'intermediate tax reform' that includes changes to tax brackets and corporate tax cuts that would shift the tax burden toward middle-income households …

"The shift toward a flat consumption tax while eliminating income taxes would lead to an average $5,900 tax increase for the middle 20 percent of households and an average $2 million tax cut for the top 0.1 percent. … Project 2025 does not stop at cutting taxes for wealthy individuals; it also proposes an array of tax cuts for corporations. … This would amount to a $24 billion tax cut for the Fortune 100, the 100 largest companies in America."

CBS News: "Millions of low- and middle-class households would likely face significantly higher taxes under the Project 2025's proposals."

New York Times: "Senator JD Vance of Ohio, former President Donald J. Trump's running mate, denied in an interview with NBC News on Sunday that tariffs had caused higher costs for Americans, as economists have documented."

Bloomberg: "Trump Tax Cuts Would Cost More Than Almost All Federal Agencies"

Washington Post: "Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Further cutting corporate taxes … would primarily benefit large firms."

Vance on Trump's plan that would raise tariffs and raise costs for hardworking Americans: "This is a fascinating proposal and we could talk for a while about it."

Project 2025: "The corporate income tax rate should be reduced to 18 percent."

Vance: "I've reviewed a lot of [Project 2025]. There are some good ideas in there."

Vance: "The left attacked Donald Trump for those tax cuts said they would make the deficit worse when in reality we took in more revenue because the government got out of the way on the regulatory side and the tax cuts spurred a lot of growth which means more people working, which meant more economic production which meant the entire economy was healthier … I think we have a pretty common sense regulatory and tax agenda."

REMINDER: Trump's failed economic agenda resulted in broken promises, a skyrocketing deficit, and new incentives for companies to ship jobs overseas.

New York Times: "The 2017 corporate tax cuts signed into law by Mr. Trump have not increased government revenue … In fact, they have had the opposite effect."

Washington Post: "Trump promised this Wisconsin town a manufacturing boom. It never arrived."

The Guardian: "Donald Trump's $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history."

CBS News: "Two years after Trump tax cuts, middle-class Americans are falling behind"

Washington Post Analysis: "One of President Donald Trump's lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he's inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump's time in office. … The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration."

Washington Post: "Trump promised 'America First' would keep jobs here. But the tax plan might push them overseas."

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