Reps. Flood & Fong at the Washington Times: Without Extending the Trump Tax Cuts, Our American Dream is at Risk

After surviving four years of record-high inflation and economic turmoil, working families and small businesses are ready for relief, and Republicans in Congress are prepared to deliver.

One of our most important missions as lawmakers this year is to build on the success of the Tax Cuts and Jobs Act. Failure is not an option because most of this critical 2017 law is set to expire at the end of the year. Without action, automatic tax hikes will affect millions of Americans.

House Republicans recently took a critical step to ensure this doesn’t happen. The budget resolution we passed April 10 lays the groundwork to extend the 2017 tax cuts and rein in wasteful spending so Americans can keep more of their hard-earned money.

Although it is more than 1,000 miles from the heart of California’s Central Valley to Lincoln, Nebraska, our communities live in a similar reality. Every dollar matters to our families and small businesses. 

When the Tax Cuts and Jobs Act was enacted in 2017, it delivered historic tax relief, proving that pro-growth tax policy helps communities grow and achieve the American dream. The real median household income rose by $5,000 after the Tax Cuts and Jobs Act, wages grew faster than in 20 years, and the poverty and unemployment rates reached their lowest levels in 50 years. The nonpartisan Congressional Budget Office also found that the Tax Cuts and Jobs Act reduced federal tax rates for families across every income level. 

The Tax Cuts and Jobs Act lowered individual income tax rates, doubled the standard deduction and reduced corporate tax rates. It raised the child tax credit to $2,000. Even parents who did not earn enough to pay taxes could receive a credit reimbursement of up to $1,400. More take-home pay boosted household finances, helping single mothers cover the cost of day care.

If the Tax Cuts and Jobs Act expires, the average American taxpayer would receive one of the most significant tax hikes in American history. According to the Tax Foundation, a single mother of two earning $52,000 would face a $1,500 tax hike in 2026. For a married couple with two children and $85,000 in income, the additional tax bill would be more than $1,700 per year, about nine weeks’ worth of groceries for a family of four. That is unacceptable.

It’s not just families who would be hurt if we let the Tax Cuts and Jobs Act expire. Job creators also have much at stake. The law bolstered economic growth nationwide by leveling the playing field for small businesses through the 20% small-business deduction. This returned hard-earned capital to farmers, allowing them to invest in modern equipment and upgrade their irrigation systems. It empowered our energy producers to incur costs for drilling equipment, promoting domestic production to regain our energy independence. It also provided local stores with resources to grow, hire and expand in their communities.

A recent poll found that strong majorities of Republicans, Democrats and independents feel it is important for the federal government to support small businesses. They believe making the 20% small-business tax deduction permanent should be a top priority for Congress. Without congressional action on this and other critical Tax Cuts and Jobs Act provisions, 9 out of 10 small businesses will be hit with a massive tax hike, decimating their ability to expand operations and raise employee wages.

Despite the looming threat of all these devastating impacts, Democrats in Washington oppose renewing the Tax Cuts and Jobs Act at the expense of the working class, farmers and small businesses. While Republicans push to keep taxes low and bring more opportunity to regions and people previously left on the sidelines, Democrats are trying to derail this proven blueprint for success and let the Tax Cuts and Jobs Act expire, which would force small businesses to scale back, limit new job opportunities and reduce wages.

From the fields of Nebraska to the farmlands of California, from Main Street shops to family homes, Congress has the opportunity and a clear responsibility to help secure a prosperous future for our neighbors, families and friends. It’s time for our colleagues on both sides of the aisle to deliver this much-needed relief for American families. We must protect the most significant tax relief in a generation.

This is not about politics. It’s about people whose American dream is on the line.

Rep. Vince Fong has represented California’s 20th congressional district since 2024. Rep. Mike Flood is a lawyer and businessman representing Nebraska’s 1st congressional district since July 2022. Both are members of the Republican Main Street Caucus.