WASHINGTON – Former President Donald Trump will extend his signature tax cuts to some of the nation's wealthiest political donors, according to a readout of his personal remarks Saturday night provided by Trump campaign officials. He emphasized the importance of this.
“President Trump will take back the White House to turn the country around, focusing on key issues like unlocking energy production, securing the southern border, curbing inflation, extending Trump tax cuts, and eliminating Joe Biden's insanity.” He talked about necessity. [electric vehicle] mission, protect Israel, and avoid world war,” campaign officials said in a roughly 45-minute speech to donors in Palm Beach, Florida.
The campaign denied NBC News' request to have a reporter present and release the full text of his remarks.
Susie Wiles and Chris Lacivita, senior advisers to President Trump, said the dinner, held at the home of billionaire hedge fund investor John Paulson, was organized by the Trump campaign, the Save America Political Action Committee, and the Republican Party. The national committee said it raised $50.5 million in community chest activities benefiting each state. . That's nearly double the $26 million President Joe Biden's campaign said it raised last month at a star-studded Radio City Music Hall gala that featured former Presidents Barack Obama and Bill Clinton.
In a video released Saturday, Biden criticized Trump for promising to extend the 2017 tax cuts beyond 2025, when many provisions expire.
“When I think the cameras aren't on, I tell my wealthy friends, 'I'm going to cut your taxes,'” Biden said in the video, alongside Sen. Bernie Sanders. An influential progressive who ran against Biden in the 2020 Democratic presidential primary.
President Trump received record sums from the country's elite, including billionaires such as sugar magnate Jose “Pepe” Fanjul Sr., oil magnate Harold Hamm, and Johnson & Johnson heir Woody Johnson. It seems that they are trying to collect donations. A political movement fueled by populist themes.
“People just want change,” he told reporters after arriving at Paulson's home. “The rich want it. The poor want it. Everyone wants change.”
In his speech, President Trump praised the donors who had gathered.
“We have incredible expertise in this room. All of you are leaders,” he said, according to campaign officials.
Trump spoke for about 45 minutes from the head table to 117 guests seated under a giant tent, campaign officials said. Afterwards, they had endive and frisée salad, filet au poivre, and pavlova with fresh berries.
President Trump's main opponent, Sen. Tim Scott (R.C.), businessman Vivek Ramaswamy and North Dakota Gov. Doug Burgum also addressed the crowd, and the Republican National Committee's Co-chair Lara Trump and Michael Whatley addressed the crowd as well, officials said. .
President Trump's 2017 tax cuts lowered income tax rates for most Americans, including high earners and most low-income workers. Many of its provisions are set to expire in 2025, including a reprieve for owners of so-called pass-through businesses (entities whose profits flow to the owners and are not taxed, but are taxed separately) favored by hedge funds. . , private equity partnerships and privately held companies. The liberal-leaning nonpartisan Center on Budget and Policy Priorities estimates that expanding pass-through deductions would cost the government $700 billion in revenue over 10 years.
