All right, look, the working families tax cut, the biggest element of it was extending and making permanent the Trump tax cuts. If we had not done that in two weeks on, on January 1st, There would have been a $4 trillion tax increase that would have been crippling to the economy. So making those tax cuts permanent is enormously important. We also made them bigger, so we passed no taxes on tips. That was my legislation, by the way. (01:38–01:44)
CLAIM
Asserts that without the reconciliation bill, a $4 trillion tax increase would have occurred.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
