AMERICA'S FACING A FISCAL CLIFF

In 2025, the 119th Congress will face multiple fiscal deadlines that will have significant impacts on the U.S. economy, including raising the debt ceiling and the expiration of the Tax Cuts and Jobs Act (TCJA).

How Congress approaches these deadlines will impact the economic health of the nation by either promoting the growth of the U.S economy or saddling Americans with higher taxes and economic stagnation.

AFP Vice President of Government Affairs Akash Chougule said: “Congress has an opportunity to come together to avert crushing tax increases that the American people don’t want by building on the success of the Tax Cuts and Jobs Act. Lower taxes are critical to help families keep more of their money and get our country back on the path to prosperity.”

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ABOUT AMERICANS FOR PROSPERITY'S KEY FINDINGS:

Americans for Prosperity (AFP) released new polling on Americans’ views on the coming expiration of the Tax Cuts and Jobs Act (TCJA) and taxes in general as the country heads into a pivotal election season and a series of critical legislative inflection points to start the new year.

More than three-quarters of Americans say that now is a bad time to increase taxes. However, the majority of Americans have heard very little about portions of the Tax Cuts and Jobs Act expiring at the end of 2025 and what these looming expirations would mean for their families and the economy as a whole.

88%

of Americans believe tax cuts help families keep more of their money

90%

of Americans want to keep their current tax rates and oppose tax hikes

78%

believe raising the corporate tax rate will drive up the cost of everyday goods

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THE PLAYBOOK FOR PROSPERITY

“We know the playbook for economic prosperity…we got government out of the way and we allowed the free market to thrive again.” - Speaker Mike Johnson

The American people understand that this formula worked. That’s why 88% of Americans believe tax cuts help families keep more of their money.

Tax Cuts That Work:

“Because we simplified the tax code and we let Americans keep more of their money, nearly 7 million people were no longer dependent on food stamps. Middle class family income rose by nearly $6,000, and incomes rose in every single metro area in the United States." - Speaker Mike Johnson

It’s no surprise, then, that 90% of Americans want to keep their current tax rates and oppose tax hikes.

Government Isn’t the Solution—It’s the Problem:

“President Reagan…reminded us that government isn’t the solution to the problem, government is the problem. And I certainly believe that.” - Speaker Mike Johnson

Americans agree, which is why they don’t want tax hikes to pay for a bigger government. 78% believe raising the corporate tax rate will drive up the cost of everyday goods.

TAKE ACTION!

As the nation’s premier grassroots organization, Americans for Prosperity is leading the fight, calling on lawmakers to support pro-growth policies that provide economic relief for American families, workers, and businesses.

Join Americans for Prosperity as we work with Congress to implement pro-growth tax policies that support economic growth, lower taxes, and limit government overreach.