Biden does not intend to multiply everyone’s taxes by 4

Biden does not intend to multiply everyone’s taxes by 4
Biden does not intend to multiply everyone’s taxes by 4

If you only have a few seconds, read these lines about Biden’s tax proposal is not to “multiply everyone’s taxes by 4”:

  • During the first Biden-Trump 2024 debate from CNN studios in Atlanta, Georgia, on June 27, 2024, Trump said Biden “wants to quadruple everybody’s taxes.”
  • Biden’s 2025 budget proposal includes not raising taxes on those earning less than $400,000 a year.
  • Trump instituted a series of tax cuts in 2017 that remain in effect but are set to expire in 2025. However, there is no public record of whether Biden has decided to keep them or let them expire.

“He wants to multiply their taxes by 4, wants to multiply everyone’s taxes by 4” [02:13:20]. In the presidential debate hosted by CNN on June 27, 2024, Republican candidate Donald Trump made this claim about the current US President Joe Biden. This, however, it’s false. Biden proposes no tax increases for those earning less than $400,000and regarding the tax cuts that Trump introduced that expire in 2025, it is not publicly known whether or not there is any intention to renew them.

Biden’s proposal includes not raising taxes on those earning less than $400,000 a year

In Biden’s most recent budget proposal, contained in the document Budget of the U.S. Government –  Fiscal Year 2025the current president “opposes tax increases on people earning less than $400,000 [anuales] and supports tax cuts for working people and families with children.”

In that same document he states that his Government “supports paying to extend tax cuts to people making less than $400,000 [anuales] with additional reforms that are make sure the richest people and big corporations pay their fair share”.

Trump’s tax cuts expire in 2025, but there’s no announcement yet

In that same part of the debate, the Republican candidate added that Biden “wants the tax cuts Trump’s policies expire so that everyone canincluding you two [los moderadores] pay four to five times more.”

The tax cuts introduced by Trump in 2017 expire in 2025, however, There is no record public that it has been decided to renew them or not from the Biden Administration.

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