Former President Donald Trump promised dozens of wealthy donors on Saturday in Palm Beach, Florida, that he would extend his signature tax cuts from his time in office should he win the presidential election.
Trump, the presumptive Republican nominee, made the vow to about 117 donors during the private event, which brought in more than $50 million in campaign donations.
The fundraiser was hosted by billionaire hedge fund manager John Paulson and attended by an array of the country’s richest men, including hedge fund manager Robert Mercer, oil executive Harold Hamm, hotel entrepreneur Robert Bigelow, and casino mogul Steve Wynn.
“Trump spoke on the need to win back the White House so we can turn our country around, focusing on key issues including 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,” a campaign spokesperson told NBC News.
The campaign did not provide the outlet with a transcript of the private event and did not respond to the Washington Examiner’s request to confirm details of the fundraiser.
Trump signed the Tax Cuts and Jobs Act into law in 2017, a massive tax overhaul bill that Republicans praised as much-needed financial relief for middle-class families and small businesses. Democrats have repeatedly condemned the legislation as a boon to “the rich.”
Many of the bill’s provisions will sunset in 2025, making tax reform a priority for the next president.
President Joe Biden’s reelection campaign responded to the report of Trump’s fundraiser remarks in a statement, criticizing the former president’s tax cuts as an unpopular “tax giveaway.”
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“Donald Trump spent his entire presidency lining the pockets of wealthy tax avoiders like himself at the expense of the middle class,” a Biden campaign spokesperson said.
The spokesperson added that Trump is “making it clear to his billionaire buddies that he’ll take his first chance to double down on tax giveaways for the ultra-wealthy – all while he fights to rip away Americans’ health care, gut Social Security and Medicare, and raise costs on working families.”
