Newt Gingrich took to Fox Business on Thursday to explain why President Donald Trump’s tax reform strategy is set to revitalize American manufacturing, create jobs, and bring trillions of dollars in investments back to the United States. With House Republicans pushing to extend Trump’s original tax cuts before they expire in 2025, Gingrich laid out exactly how the America First economy is about to hit turbo mode.
A Smarter Approach to Tax Reform
Gingrich contrasted Trump’s tax policy with the 1981 Reagan tax cut, which he argued delayed investment and deepened the 1982 recession before finally kicking into high gear in 1983. Unlike past plans that took years to take effect, Trump’s strategy ensures immediate incentives that encourage companies to invest now. The difference? Businesses are already announcing major commitments to expand in America rather than waiting years for tax relief.
He specifically highlighted Trump’s 100% expensing policy, which allows businesses to fully deduct the cost of building factories and purchasing equipment right away. According to Gingrich, passing this bill by mid-year would unleash trillions in investment, creating jobs, raising wages, securing pensions, and even strengthening Social Security for future generations.
“If we can get the bill passed by May or June, you will see literally trillions of dollars of commitment to new factories, new jobs, new opportunities, higher incomes, much safer pensions, and, frankly, the ability to pay for Social Security for the foreseeable future,” Gingrich said.
The Most Pro-Business Cabinet in History
Gingrich also praised the Trump administration for assembling what he called “the most entrepreneurial, success-oriented, and achievement-oriented” cabinet in U.S. history. Unlike previous administrations that drowned businesses in red tape, Trump’s team is aggressively cutting government bloat, decentralizing federal power, and working in lockstep with business leaders to unleash America’s full economic potential.
“You have an entire cabinet that is the most entrepreneurial, the most success-oriented and the most achievement-oriented cabinet in history,” Gingrich stated. “They’re going to dramatically reshape the government of the United States into a more decentralized, smaller, more efficient and dramatically less fraud-ridden [one].”
Trump’s Tax Cuts: A Proven Success
While Democrats love to pretend tax cuts only help the wealthy, the numbers tell a different story. Former Reagan economist Art Laffer emphasized that under Trump’s 2017 Tax Cuts and Jobs Act, the rich actually paid more in taxes while tax rates dropped. Revenue increased, wages climbed, and businesses reinvested in American workers.
“The taxes did go up with the Tax Cuts and Jobs Act. The rich paid more in taxes at lower tax rates. Revenues went up, not down. And, you know, this was a win, win, win, win,” Laffer said.
The Bottom Line: America First, Again
Trump’s tax policies have already been battle-tested—and they worked. As House Republicans move to extend and expand those cuts, the American economy is poised for another boom. With incentives that encourage businesses to build in the U.S. now, rather than years down the road, and a cabinet laser-focused on cutting waste and bureaucracy, the future of America’s economy looks brighter than ever.
Bidenomics left America in shambles. Trump’s tax plan is about to fix it.
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