A Trump campaign aide read aloud former President Donald Trump's private speech Saturday night, emphasizing the need of extending his landmark tax cuts to some of the nation's wealthiest political donors.
The campaign official said Trump spoke on the need to win back the White House so we can turn our country around, focusing on key issues like unleashing energy production, securing our southern border, reducing inflation, extending the Trump Tax Cuts, eliminating Joe Biden's insane [electric vehicle] mandate, protecting Israel, and avoiding global war in a 45-minute speech to donors in Palm Beach, Florida.
Trump senior advisers Susie Wiles and Chris LaCivita said the dinner at billionaire hedge fund investor John Paulson's home raised $50.5 million for Trump's campaign, Save America, the Republican National Committee, and state parties. This is nearly double the $26 million President Joe Biden's campaign raised last month at a Radio City Music Hall fundraiser with former presidents Barack Obama and Bill Clinton.
In a Saturday video, Biden criticized Trump for vowing to prolong the 2017 tax cuts beyond 2025, when many aspects will expire.
When he thinks the cameras are off, he promises his wealthier buddies, “We’re going to give you tax cuts.” Biden says in the video as he stands with Sen. Bernie Sanders, I-Vt., a major progressive who competed against him in the 2020 Democratic presidential primary.
Trump tried to reconcile record-breaking donations from billionaires like José “Pepe” Fanjul Sr., Harold Hamm, and Woody Johnson with a populist political movement.
“People are just wanting change,” he told reporters at Paulson's home. Rich folks desire it. The poor desire it. Everyone wants change.” “We have incredible expertise in this room — every one of you are leaders,” he added, the campaign official said.
Trump's 2017 tax reduction lowered income tax rates for most Americans, including top incomes and most low-wage workers. Numerous provisions of the law will expire in 2025, including a break for owners of pass-through businesses, which are favored by hedge funds, private equity partnerships, and privately held companies.
The liberal, nonpartisan Center for Budget and Policy Priorities estimates that expanding the pass-through deduction will cost $700 billion in lost revenue over a decade.
Follow for more updates