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Trump Asked To Explain Why Not Passing Big Beautiful Bill Would Lead To 68 Percent Tax Increase
Forbes Breaking News
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6/30/2025
Speaking to reporters in the Oval Office on Friday, President Trump spoke about an increase in taxes if the Big Beautiful Bill isn't passed.
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00:00
On taxes, Mr. President, could you please explain how taxes would go up by 68% if the bill isn't
00:07
passed? Where does that number come from? Well, it comes from the fact that you have
00:10
automatically the Trump cuts, which were the biggest cuts that we've ever had. Now,
00:14
these cuts are even bigger, but from the last administration with the Trump cuts,
00:19
it was a five-year deal and it comes due. When you add that to the cuts that you already have
00:24
and other things, amounts according to what they tell me about 68%, that would mean you'd have a
00:31
tax so that you know that the tax cuts that they got, the biggest tax cuts in our history,
00:38
would immediately go up to that level and that alone is a big chunk of the 68%. And then you have
00:45
the other taxes that would accumulate and they say that you'd have about a 68% tax increase.
00:51
Sir, you said,
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