President Trump promised major tax cuts during his speech at the World Economic Forum (WEF) in Davos, Switzerland, including significant cuts for workers, families, and domestic manufacturers.
Former Rep. Kevin Brady (R-Tx.) and Center for American Progress senior director Brendan Duke appear on Morning Brief to discuss Trump's proposed tax cut policies.
Brady, also a former Chair of the House Ways and Means Committee of the 2017 Tax Cuts and Jobs Act, emphasizes the importance of making key provisions permanent regarding tax cuts.
"I think clearly the Trump tax cuts worked from the standpoint of economic growth, bringing investment back to the United States and record wage growth, especially in those first three years pre-COVID," Brady says.
Meanwhile, Duke warns that tax cuts are not entirely without cost: "Tax cuts are not free. They are going to drive up interest rates, and low and middle-income families are going to end up paying for it when it comes to the grocery store or their credit card bills."
Related Videos
Watch the video above to hear the full interview of former Rep. Brady and Duke, as they explore Trump’s proposed tax cuts and their potential impacts on the US economy.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Josh Lynch