Tax Season 2025: Republicans Want to End Tax Breaks That Lower Energy and Health Care Costs for Hardworking Americans

As Republicans push a blueprint that would end tax breaks for energy and health care provided through President Biden’s Inflation Reduction Act, DNC spokesperson Aida Ross released the following statement: 

“Republicans are making it clear that their entire tax plan is to follow Donald Trump’s lead to put the ultra-wealthy over hardworking Americans. Trump would end President Biden’s tax breaks for working families that lower energy and health care costs all while giving massive tax handouts to the super rich and making it easier for the wealthy to cheat on their taxes. Voters see Trump and the GOP’s disastrous MAGAnomics agenda for the scam it is – and they’ll reject it this November.”

The Republican Study Committee’s budget would end tax breaks for hardworking Americans provided through the Inflation Reduction Act…

FY2025 Budget: “Repeal the green giveaways in the Inflation Reduction Act …

“The RSC Budget would repeal these provisions of the Inflation Reduction Act …

“Providing tens of billions billion in annual taxpayer subsidies through the Inflation Reduction Act … The RSC Budget would end these taxpayer bailouts.”

White House Fact Sheet: “The Inflation Reduction Act includes some two dozen tax provisions that will save families money on their energy bills and accelerate the deployment of clean energy, clean vehicles, clean buildings, and clean manufacturing.”

KFF: “As part of the Inflation Reduction Act, the Senate recently passed a three-year extension (through 2025) of enhanced subsidies for people buying their own health coverage on the Affordable Care Act Marketplaces. These temporary subsidies were originally slated to last two years (2021 and 2022) and were passed as part of the American Rescue Plan Act (ARPA). The enhanced subsidies increase the amount of financial help available to those already eligible and also newly expand subsidies to middle-income people, many of whom were previously priced out of coverage.”

… but repeal provisions in the law that crack down on wealthy tax cheats.

Rolling Stone: “The House of Representatives passed the Inflation Reduction Act on Friday, clearing the way for President Biden to sign the landmark climate and healthcare bill into law. The legislation passed along party lines, as Democrats overcame unified GOP opposition.”

CBS News: “IRS and Treasury officials have stated the IRS is focused on tracking down wealthy tax cheats and businesses with unpaid or overdue tax bills. 

“‘This analysis demonstrates that President Biden’s investment in rebuilding the IRS will reduce the deficit by hundreds of billions of dollars by making the wealthy and big corporations pay the taxes they owe,’ National Economic Adviser Lael Brainard said in a statement.”

Washington Post: “In part by tweaking federal tax laws — chiefly to target tax cheats and some billion-dollar companies that pay nothing to the government — the bill is expected to raise enough money to cover its new spending.”

New York Times: “The legislation would also bolster the I.R.S. with an investment of about $80 billion, hoping to recover additional tax revenue by cracking down on wealthy corporations and wealthy tax evaders.”

New York Times: “Charles P. Rettig, the Internal Revenue Service commissioner, told Congress on Thursday that the tax collection agency would not increase audits of households earning less than $400,000 if it was given the additional $80 billion that lawmakers were considering in a proposed climate and tax legislation package.”

Reminder: Republicans want to make permanent Trump’s disastrous MAGAnomics tax scam that gave handouts to the ultra-rich at the expense of working Americans.

Bloomberg: “The conservative Republican Study Committee is out with a 2025 budget proposal to extend individual and corporate breaks from the 2017 Trump’ tax law.”

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

Washington Post: “The former president’s closest economic advisers are plotting an aggressive new set of tax cuts to push on the campaign trail and from the Oval Office if he wins a second term. Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Trump’s advisers, though, have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to as low as 15 percent, or to use the revenue from the proposed tariffs to pay a dividend to U.S. households. Further cutting corporate taxes … would primarily benefit large firms.”

New York Magazine: “The GOP Gutted the IRS — and the Rich Made Out Like Bandits”