EXCLUSIVE: Trump tax cuts ‘high precedence’ for Congress, says high Home GOP chief

[ad_1] EXCLUSIVE – Following President Donald Trump’s "liberation day" tariffs announcement , a high Home GOP chief is pushing for Congress to increase the president’s 2017 tax cuts, which he says is the subsequent "high precedence" for Republicans.

The passage of the 2017 Tax Cuts and Jobs Act (TCJA) was the primary main legislative victory for the primary Trump administration and represented probably the most vital achievements of his time period.

Now, after the Senate handed a decision Saturday night time organising a course of referred to as reconciliation to bypass any potential Democratic filibuster, it’s as much as the Home to take the subsequent step in making the cuts everlasting.

Majority Whip Tom Emmer, who represents Minnesota and who holds probably the most influential roles within the Home, advised Fox Information Digital that extending Trump’s 2017 tax cuts is without doubt one of the occasion’s main factors of focus, each in Congress and within the White Home.

Emmer is holding an "Spend money on America" roundtable dialogue with Trump Treasury Secretary Scott Bessent , Nationwide Affiliation of Producers (NAM) CEO Jay Timmons and different manufacturing leaders from throughout the nation on Tuesday to debate the significance of solidifying the cuts now.

In line with Emmer's workplace, the roundtable dialogue may also spotlight monetary literacy month and emphasize the necessity to give all People the instruments to succeed financially.

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A high Home GOP chief is pushing for Congress to increase the president’s 2017 tax cuts, which he says is the subsequent "high precedence" for Republicans. (Kevin Dietsch/Getty Pictures | Vincent Alban/Bloomberg by way of Getty Pictures | Fox Information Digital)

Emmer’s workplace advised Fox Information Digital that the roundtable might be centered on the significance of Congress preserving the 2017 tax cuts by means of reconciliation.

Reconciliation is a approach to fast-track laws on points like taxes, the debt restrict and federal spending by bypassing the Senate’s 60-vote threshold for passage, as an alternative decreasing it to a easy 51-vote majority.

"Following Liberation Day, there's a starvation for much more motion to place American employees, companies and manufacturing first," a consultant for Emmer mentioned in a press release. "Persevering with the Trump tax cuts does that, and this dialogue will show the urgency and significance of getting it completed."

There are key points of the 2017 tax cuts associated to manufacturing which might be set to sundown on the finish of the yr. Emmer believes that if that occurs it could end result within the "largest tax hike in American historical past."

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Rep. Tom Emmer speaks in the course of the Republican Nationwide Conference, July 16, 2024, in Milwaukee. (AP Photograph/Charles Rex Arbogast)

"Home Republicans and the Trump administration know the stakes are excessive for People concerning tax reform," mentioned the consultant.

Emmer’s workplace pointed to a NAM research that discovered a sundown on these tax reforms on the finish of 2025 would price America 6 million jobs, together with over 1.1 million manufacturing jobs, in addition to $540 billion in misplaced wages and $1.089 trillion in misplaced GDP.

Whereas Trump’s tariff coverage facilities on growing American productiveness and manufacturing, the research posits that if Congress fails to increase the cuts, the nation could be positioned again in an uncompetitive worldwide tax regime that "disincentivizes funding within the U.S. and hampers producers’ potential to compete on the world stage."

NAM CEO Jay Timmons advised Fox Information Digital that he's calling on Congress to make the pro-manufacturing reforms in Trump’s 2017 tax cuts everlasting, saying "day-after-day with out motion harms producers’ potential to put money into America and plan for the long run."

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President Donald Trump sits down with Fox Information anchor Bret Baier for an interview. (Fox Information/Particular Report)

"Present financial situations make renewal of the 2017 tax reforms much more pressing," mentioned Timmons. "Passage of the unique regulation ignited job creation, wage development and funding throughout the nation. And because of this, producers stored our guarantees by increasing operations, boosting wages and advantages and hiring at report ranges. However now key provisions have already expired, and others are set to lapse on the finish of this yr."

"It's previous time to make these reforms everlasting and extra aggressive," he added. "When manufacturing wins, America wins."

For his half, Emmer advised Fox Information Digital that extending the tax reforms is a "high precedence for Home Republicans, the Trump administration, and American producers alike."

"The American individuals are hungry for an financial increase that's already underway," he mentioned. "However [it] will solely be absolutely realized if Congress acts to proceed the 2017 Trump tax cuts by means of reconciliation."

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Treasury Secretary Scott Bessent departs following the tariff announcement within the Rose Backyard of the White Home on Wednesday, April 2, 2025. (Jim Lo Scalzo/EPA/Bloomberg by way of Getty Pictures)

In the meantime, Bessent advised Fox Information Digital that "making President Trump’s Tax Cuts and Jobs Act everlasting will assist to safe the secure enterprise setting that buyers are searching for."

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"Stability in tax coverage fosters certainty, and increasing the TCJA will drive development and managements, funding, and hiring as we enter America’s new financial golden age," he went on, including, "I look ahead to persevering with this vital dialog with Majority Whip Emmer and members of Congress to ship on these vital reforms for the American folks."