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Tax Cuts for the Rich? In This Economy? GOP Playbook Faces Doubts

Economists question whether the centerpiece of Republican economic orthodoxy will resonate during a time of elevated inflation and high interest rates.

Bloomberg business news
Inflation and Abortion: Issues Impacting the Midterms

In Pennsylvania, Senate candidate Mehmet Oz earned President Donald Trump’s endorsement for being “very strong” on tax cuts. In Georgia, Republican Herschel Walker says it’s “not right” to tax the wealthy. And Arizona Representative David Schweikert has proposed a federal law to limit state taxes on the rich.

Grand tax cuts have long been a centerpiece of Republican economic orthodoxy, appealing to the well-to-do who want to keep more of their income and stock-market gains.