Trump's week in review: Strait of Hormuz, Israel-Lebanon ceasefire, Jesus meme backlash
3. Trump admin. highlights economic policies on Tax Day
Several Trump cabinet members discussed the impact of Trump’s economic policies at a White House press conference Wednesday, which was the April 15 deadline for filing federal income taxes. The press briefing began with White House press secretary Karoline Leavitt noting that the One Big Beautiful Bill Act, passed last year and signed into law by Trump, included provisions eliminating taxes on tips, Social Security and overtime pay.
“More than 53 million filers claimed at least one of President Trump’s signature new tax cuts,” she said. “The average refund this filing season is more than $3,400.”
U.S. Secretary of the Treasury Scott Bessent provided additional statistics about the impact of the new tax policies: “More than 45 percent of the filers that we have seen have had at least one of the [president’s four] signature policies, no tax on tips, no tax on overtime, the deductions for our great seniors and the deductibility of interest on auto loans for American-made cars.”
“Over 6 million filers have claimed no tax on tips, with an average deduction of $7,100," he continued. "Over 25 million filers have claimed no tax on overtime with an average deduction of $3,100. Over 30 million seniors have claimed the enhanced deduction for seniors with an average deduction of $7,500 and over one million filers have claimed no tax on car loan interest on American cars for an average deduction of over $1,800.”
“Twelve million small businesses have an average tax savings of $7,000,” explained Small Business Administrator Kelly Loeffler, adding that 31 million Americans have benefited from the elimination of taxes on tips and overtime pay.
Ryan Foley is a reporter for The Christian Post. He can be reached at: ryan.foley@christianpost.com
