Plans to extend and expand Trump-era tax cuts would largely benefit the wealthy.
In the first presidential debate of 2024, tax policy—and who it really benefits in this country—were among the issues most fiercely debated by Donald Trump and President Biden. Trump repeated his vow to extend his 2017 tax cuts and falsely claimed that Biden wants to raise taxes “by four times.” Biden shot back by describing how Trump’s tax cuts “rewarded the wealthy” and that he just wants them to “pay their fair share,” since he’d raise taxes only on those earning over $400,000 a year.
