Ahead of Donald Trump’s interview with Bloomberg News and the Economic Club of Chicago, DNC Rapid Response Director Alex Floyd released the following statement:

“Economists are sounding the alarm: Donald Trump’s Project 2025 agenda would create an ‘inflation bomb’ and skyrocket the deficit while hiking costs. The Trump-Vance ticket would double down on the MAGAnomics failures of Trump’s first term after he added nearly two trillion dollars to the national deficit with his tax scam, created new incentives for companies to send jobs overseas, and left office with the worst jobs record in modern American history. The American people are not going back – they will reject the Trump-Vance ticket’s plans to devastate our economy and vote for Vice President Harris and Governor Walz, who will always put hardworking Americans first.”

The extreme, unpopular, and unaffordable Trump-Vance Project 2025 agenda would once again gift tax breaks to the ultra-rich and big corporations while causing an “inflation bomb.”

Wall Street Journal: “Economists Say Inflation, Deficits Will Be Higher Under Trump Than Harris”

Axios: “16 Nobel economists see a Trump inflation bomb”

“Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump’s plans would reignite inflation and cause lasting harm to the global economy if he wins in November.”

Axios: “Trump’s inflation bomb: How his second-term plans could make it worse”

The Hill: “Trump win, GOP sweep would fuel inflation: Moody’s Analytics”

CNBC: “Trump budget would spike deficits by nearly 5 times Harris proposal, says Penn Wharton”

The Atlantic: “Trump’s Plan to Supercharge Inflation”

Bloomberg: “[Trump] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.”

Wall Street Journal: “A drumbeat of reports from Wall Street economists have warned that Trump’s plans could substantially slow economic growth while driving up consumer prices.”

Washington Post: “Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Further cutting corporate taxes … would primarily benefit large firms.”

Center for American Progress: “Project 2025’s Tax Plan Would Raise Taxes on the Middle Class and Cut Taxes for the Wealthy”

“In [Project 2025], far-right extremist plans are outlined that raise taxes on low- and middle-income households to finance tax cuts for the wealthy and large corporations. Project 2025’s tax plan includes an ‘intermediate tax reform’ that includes changes to tax brackets and corporate tax cuts that would shift the tax burden toward middle-income households…

“The shift toward a flat consumption tax while eliminating income taxes would lead to an average $5,900 tax increase for the middle 20 percent of households and an average $2 million tax cut for the top 0.1 percent… Project 2025 does not stop at cutting taxes for wealthy individuals; it also proposes an array of tax cuts for corporations. … This would amount to a $24 billion tax cut for the Fortune 100, the 100 largest companies in America.”

CBS News: “Millions of low- and middle-class households would likely face significantly higher taxes under the Project 2025’s proposals.”

Project 2025: “The corporate income tax rate should be reduced to 18 percent.”

Donald Trump’s utter failure of an economic record put working people last by rigging the economy for billionaires, skyrocketing the deficit, and creating new incentives for companies to ship jobs overseas.

Washington Post: “For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year”

Forbes: “Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018”

The Guardian: “Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.”

New York Times: “How Big Companies Won New Tax Breaks From the Trump Administration”

Economic Policy Institute: “The TCJA overwhelmingly benefited the rich and corporations while overlooking working families”

Vox: “Trump said this tax break was for small businesses. It’s giving $17 billion to millionaires this year”

New York Times: “The 2017 corporate tax cuts signed into law by Mr. Trump have not increased government revenue … In fact, they have had the opposite effect.”

CBS News: “Two years after Trump tax cuts, middle-class Americans are falling behind”

Washington Post Analysis: “One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump’s time in office… The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration.”

Bloomberg: “The Offshoring of U.S. Jobs Increased on Trump’s Watch”

Washington Post: “Trump promised ‘America First’ would keep jobs here. But the tax plan might push them overseas.”

The Guardian: “‘He pulled the wool over our eyes’: workers blame Trump for moving jobs overseas”

“Promises to save US manufacturing and prevent American jobs moving abroad were a key part of Donald Trump’s 2016 campaign. But since Trump took office in January 2017, nearly 200,000 jobs have been moved overseas, based on Trade Adjustment Assistance certified petitions.”

Reuters: “How offshoring rolled along under Trump, who vowed to stop it”

“Donald Trump won the U.S. presidency four years ago, in part, by a promise to Midwest factory workers that he would stop companies like Schneider Electric SE from moving jobs out of the country. He didn’t stop them.”

ITEP: “The Trump-GOP tax law enacted in December 2017 creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore.”

Wall Street Journal: “President Trump’s trade war against China didn’t achieve the central objective of reversing a U.S. decline in manufacturing, economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.”

Detroit Free Press: “Trump, tweets couldn’t save U.S. auto jobs in 2017”

New York Times: “After Years of Growth, Automakers Are Cutting U.S. Jobs”

Bureau of Labor Statistics: “When Trump left office, there were over 170,000 fewer manufacturing jobs than when he started.”

Trump’s failed MAGAnomics earned him the worst jobs record in modern American history.

Fortune: “Trump to leave office with the worst jobs record since Herbert Hoover”

Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”

Bloomberg: “Trump’s Jobs Record Fell Short of Promises Even Before the Virus”

USA Today: “Fact check: Chart of job growth by president shows historic unemployment under Trump”

Newsweek: “Trump Leaving Office With 3M Less Jobs Than When He Entered, Worst Record Since Depression”