Project 2025 Tax Proposal Would Raise Taxes on Arizonans, Cut Taxes for Wealthy

TUCSON — Project 2025, a series of policy proposals by the right-wing think tank the Heritage Foundation, would raise taxes on middle-class Arizonans and cut taxes for the ultra-wealthy and corporations, according to a new report from Center for American Progress.

Congressman Schweikert has previously voted to give tax breaks to the wealthy and corporations and to shield wealthy tax cheats from paying their fair share, consistent with the tax goals of Project 2025. He also voted for the 2017 Republican Tax Law, another massive handout to corporations and the ultra wealthy. Provisions of that law are set to expire next year unless Congress votes to extend them.

According to Center for American Progress, a married couple in Arizona with two children earning the median income of $104,407 would see their federal income taxes increase by $2,720 under Project 2025’s new tax bracket system. A single-person household in Arizona making the median income of $40,323 would face a $1,004 tax increase. 

Meanwhile, the wealthiest Americans and large corporations would receive a windfall: the wealthiest 0.1 percent of U.S. households, those making $10 million annually, would get average tax cuts of as much as $2.4 million. Project 2025 also proposes to slash the corporate tax rate from 21 percent to 18 percent, a move that would hand $24 billion in tax cuts to the Fortune 100, including $1.3 billion to the five largest U.S. oil companies and $1.6 billion to the biggest pharmaceutical companies.

“Project 2025's tax plan would deepen economic inequality and make it even harder for Arizona families to get by, just like the tax cuts for the wealthy that Congressman Schweikert has consistently voted for,” said Andrea Moreno, Executive Director of Honest Arizona. “Elected leaders, like Congressman Schweikert, should reject these right-wing proposals and vote against raising costs on Arizonans while giving the wealthy another tax handout.”

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