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Join NowWhat Trump’s Project 2025 Would Mean for Your Wallet
It is widely believed, for some reason, that Republicans are good for the economy. However, Project 2025, the 920-page MAGA document created by past Trump aides, could seriously cost the average American a lot of money.
Project 2025 is a blueprint for Donald Trump to strip away Americans’ freedoms and money. Read below to see how much a Trump presidency would cost you.
Project 2025 would cut clean-energy tax credits, clean-energy jobs, and increase C02-related illnesses.
Project 2025 would roll back the Inflation Reduction Act and Bipartisan Infrastructure Law, which would also abolish clean-electricity tax credits, zero-emission-vehicle tax credits, advanced-energy-manufacturing tax credits, and energy efficiency standards, which save the average American family $5,000.
Along with cutting millions of jobs and revenue, Project 2025 would cause more than 2,000 premature deaths from exposure to air pollution and CO2 emissions. This loss of life could mean dual-income parents living off a single income or dual-income households relying on one income.
This could lead to increased health problems, comorbidities, and chronic illnesses, causing Americans to visit the doctor more frequently and buy pricey prescriptions.
Project 2025 would leave more Americans sick and uninsured, with skyrocketing out-of-pocket costs.
Project 2025 would repeal Medicare’s drug price negotiation, which would allow Big Pharma to price-gouge, especially for seniors. It would also repeal the drug provisions in place by the IRA, eliminating the $35 insulin cap and $2,000 out-of-pocket cap for Medicare beneficiaries, affecting 1.8 million people. This would mean those with chronic conditions could be paying thousands of dollars, if not more, monthly to get care.
Project 2025 tax plan benefits only the extremely wealthy.
Project 2025 plans to overhaul the tax system. It would reduce the income tax brackets from seven to two and give the government more control over the IRS.
Right now, we have seven tax brackets, where the more you make the higher tax bracket you fall in— 10%, 12%, 22%, 24%, 32%, 35%, 37%. Project 2025 proposes two tax brackets: 15% and 30%.
According to estimates from Brendan Duke, Senior Director for Economic Policy at the Center for American Progress, under this policy, a family of four with $100,000 in annual income would pay $2,600 in additional income tax, while a family of the same size making $5 million a year would receive a $325,000 tax cut.
Project 2025 also plans to reduce the tax on dividends from 20% to 15%. Few Americans even own stocks. and the vast majority of the publicly traded stock is owned by the wealthy.
Project 2025 proposes to freeze IRS funding and replace officials with appointees. Freezing the budget would mean that extra money from other programs, like the Inflation Reduction Act, could be used to recoup $1 billion in unpaid taxes by the wealthy, which has already happened.
Project 2025 would create more tax cuts for the rich and raise taxes on the middle class. It’s not a plan that benefits hardworking Americans.
Harris’s economic policies help Americans.
Harris vows to tackle inflation in a number of different areas—from groceries to prescription drugs to the price of homes.
Harris proposes a federal ban on price-gouging for food and groceries. Grocery prices skyrocketed in 2021, and profit margins surged two years later, even after the actual price of groceries started to go down. The plan could resemble having the price-gouging ban in place in 37 states, which would help prohibit high sudden spikes in food costs.
She is proposing to expand the Child Tax Credit for low- and middle-income families to $6,000 in the child’s first year. She’d also like to bring back the pandemic-era program that gave families up to $3,600 for each child.
Harris also plans to tackle the housing market by building 3 million homes by the end of her first term. This would boost home supply and help ease some of the price pressures for some homebuyers. Harris aims to give companies who build starter homes tax incentives and to help first-time home buyers through a $25,000 subsidy.
Harris’s economic plan aims to tackle inflation, making big and little purchases available for Americans.
How to stop Project 2025? Get involved!
Project 2025 is the blueprint for the next conservative leader and actively strips away Americans’ freedoms. The best way to stop Project 2025? Beat Trump at the ballot box this November.
MoveOn has tons of ways for you to get involved to help make Kamala Harris the president of the United States.
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