Mon. May 20th, 2024

Trump tells billionaires he’ll keep their taxes low at $50 million fundraising gala

By 37ci3 Apr7,2024

WASHINGTON — Former President Donald Trump has stressed the importance of extending his signature tax cuts to some of the nation’s wealthiest political donors. personal notes It was provided by a Trump campaign official on Saturday night.

“Trump talked about the importance of taking back the White House so that we can turn our country around, focus on key issues such as freeing up energy production, securing our southern border, reducing inflation, extending Trump’s tax cuts, and ending Joe Biden’s insanity. [electric vehicle] mandate, protect Israel and avoid global war,” a campaign official said during a nearly 45-minute speech to donors in Palm Beach, Florida.

The campaign rejected requests from NBC News to have a reporter present for their speeches and provide a full transcript of them.

Senior Trump advisers Susie Wiles and Chris LaCivita said he made $50.5 million from a dinner hosted at the home of billionaire hedge fund investor John Paulson. joint fundraising effort It benefits the Trump campaign, his Save America political action committee, the Republican National Committee and state parties. That’s nearly double President Joe Biden’s $26 million campaign he said it was lifted last month at a star-studded Radio City Music Hall gala with former presidents Barack Obama and Bill Clinton in attendance.

In a video released Saturday, Biden hit out at Trump for promising to extend the 2017 tax cuts beyond 2025, when many of the provisions are about to expire.

“When he thinks the cameras aren’t on, he quotes his rich friends, ‘We’re going to give you tax cuts,'” Biden says in the video as he stands with Sen. Bernie Sanders, I-Vt.. The leading progressive running against Biden in the 2020 Democratic presidential primary .

Trump appeared to be seeking record donations from the nation’s elite — a group that includes billionaires like sugar magnate José “Pepe” Fanjul Sr., oil baron Harold Hamm and Johnson & Johnson heir Woody Johnson. a political movement rooted in populist themes.

“People just want change,” he told reporters as he arrived at Paulson’s home. “Rich people want it. Poor people want it. Everyone wants change.”

During his speech, Trump praised the collected donors.

“We have incredible experience in this room — every single one of you is a leader,” he said, according to a campaign official.

According to a campaign official, Trump spoke from his head table to 117 guests seated under a giant tent for about 45 minutes. They then dined on pavlova with chicory and frisee salad, filet au poivre and fresh berries.

Several of Trump’s defeated arch-enemies — Sen. Tim Scott, RSC, businessman Vivek Ramaswamy, and North Dakota Gov. Doug Burgum — as well as Republican National Committee co-chairs Lara Trump and Michael Whately, also addressed the crowd. .

Trump’s 2017 tax cut lowered income tax rates for the vast majority of Americans, including top earners and low-income workers. Many of its provisions will expire in 2025, including a break for owners of businesses called tax-exempt entities, favored by hedge funds because the income flows to the owners who are taxed individually. , private equity partnerships and private companies. Liberal-leaning, nonpartisan Center on Budget and Policy Priorities guessed extending the transition period would cost the government $700 billion in lost revenue over ten years.

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By 37ci3

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