The America First Policy Institute (AFPI) has issued a statement from its interim President and CEO, Greg Sindelar, regarding the Senate’s version of the One Big Beautiful Bill Act. According to Sindelar, “The Senate version of the One Big Beautiful Bill Act will help usher in the Golden Age of affordability as promised by President Trump.” He emphasized that unity among Senate and House conservatives is crucial for advancing this legislation.
Sindelar outlined that the bill aims to stimulate economic growth by making the Trump tax cuts permanent and expanding opportunity zones. He stated, “Making personal tax rates permanent for individuals and small businesses enables families to keep more of what they earn – rather than expanding the size of government.” Additionally, he noted that the bill seeks to enhance American energy production through reforms in permitting processes, complete border security measures, and fund mass deportation operations.
The AFPI warns against failing to extend the 2017 Tax Cuts and Jobs Act (TCJA), known as the “Trump tax cuts,” which could lead to increased marginal rates for taxpayers. The organization attributes current economic challenges such as high inflation and consumer debt to policies under the Biden-Harris Administration.
AFPI policy experts have advocated for extending TCJA provisions in various studies, particularly highlighting their importance in fostering economic prosperity. They argue that these tax cuts were instrumental in America’s historic economic success post-enactment.
According to AFPI’s Office for Fiscal and Regulatory Analysis, without TCJA extension, American families may face significant tax hikes. Making these provisions permanent is seen as essential for providing economic certainty needed by businesses and families.
The TCJA’s corporate tax reforms reportedly resulted in a 20% increase in domestic investment. AFPI research suggests that maintaining these reforms could further boost real GDP growth and pre-tax wages while supporting domestic capital stock expansion. This approach is presented as an alternative path out of what AFPI describes as “Biden-Harris stagnation.”