Center Signs-on to Letter Calling for Federal Tax Cuts
In the hopes that Ocean State legislative leaders might follow a similar path, the CEO of the RI Center for Freedom & Prosperity joined with dozens of leaders from conservative groups across America to send a letter to the chairman of the U.S. House Ways and Means Committee asking for an extension of cuts that came with the Tax Cuts and Jobs Act of 2017.
“A major issue that I believe was not adequately discussed during the 2024 Presidential campaign, was the status of the major tax cuts implemented under Trump’s first administration,” said Mike Stenhouse. “Expiration of those cuts, still scheduled for this year, would mean an immediate tax hike for every federal taxpayer in America. Rhode Island’s economic #AssaultOnRIFamilies must end; our state’s ruling class does not understand that major cuts in income taxes will lead to increased economic output and widespread prosperity.”
The letter also requests an end to taxing capital gains inflation and to cut the corporate tax rate to 15% or less.
“An ambitious corporate rate cut would fuel our struggling economy with a flood of capital into the United States, stop capital from leaving the United States, create a spike in job opportunities for all Americans, and generate economic growth across-the-board,” the letter said.
The inflation letter gave an example of an item bought for $100 now being taxed at $120 due to inflation, not an increase in the item’s value.
“It is simply unfair for a taxpayer to have to pay capital gains tax on inflation, since the taxpayer receives no actual increase in value or purchasing power due to inflation,” the letter said.
Support local and honest journalism by becoming a charter member of the Ocean State Current.
As our liberties are under constant attack – and the dishonest corporate media fails to hold public officials accountable – The Ocean State Current has become the choice of parents and citizens who value honest and fearless reporting. Why? Because we provide in depth discussion of stories that other news organizations refuse to even cover.
For just $3.99 per month, or only $39.99 for a pre-paid full year, as Cruise Member you will support journalism you can trust… on issues that are important to you and your family.
