Biden’s Commerce Secretary Claims No ‘Shred Of Evidence’ That Trump Tax Cuts ‘Increased Growth And Productivity’

Biden’s Commerce Secretary Claims No ‘Shred Of Evidence’ That Trump Tax Cuts ‘Increased Growth And Productivity’


On Wednesday, Biden Administration Commerce Secretary Gina Raimondo stated, “There is not a shred of evidence to show the [Trump] tax cuts in 2017 increased growth and productivity.”

Commerce Secretary Gina Raimondo says “there is not a shred of evidence to show the [Trump] tax cuts in 2017 increased growth and productivity.” pic.twitter.com/SHIwrb60Mr

— Daily Caller (@DailyCaller) April 7, 2021

The Heritage Foundation explained, “In December 2017, Congress passed a $1.5 trillion tax cut to spur business investment, support the long-running post-financial-crisis economic expansion, and simplify taxpaying. The primary permanent component of the TCJA is the 21 percent corporate income tax rate. The law lowered the federal rate from 35 percent, which had made America one of the highest corporate-income-tax countries in the world. The lower rate was paired with business expensing, allowing businesses to write off the full cost of investments through the end of 2022. These two provisions were the primary driving force behind projections of increased economic growth.”

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