New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report

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Wed, December 11, 2024

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New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report

^{Published on 2024-12-11 16:40:45 - MSN}

New Labor Department data released Wednesday showed stubborn inflation continued, which could make it difficult for President-elect Donald Trump and his GOP allies to pass certain legislation they've planned.

The article from MSN discusses how recent inflation data is complicating the Republican Party's economic agenda, particularly the plans for tax cuts and tariffs proposed by former President Donald Trump. According to the report, the persistent high inflation rates are making it difficult for the GOP to push forward with their economic policies. Trump's proposed 10% tariff on all imports and his desire to extend the 2017 tax cuts could exacerbate inflation, potentially leading to higher prices for consumers and increased costs for businesses. This situation is causing concern among some Republicans, as these policies might not only fail to address inflation but could also lead to economic instability. The article highlights the tension between the GOP's desire to fulfill campaign promises and the economic realities that might force a reevaluation of these strategies.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/new-inflation-numbers-threaten-trump-and-gop-s-plans-for-tax-cuts-and-tariffs-report/ar-AA1vGUfE ]

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