Bloomberg Talks Grover Norquist Talks Tax Bill in the House
Jul 2, 2025
Grover Norquist, founder of Americans for Tax Reform and a prominent advocate for lower taxes, joins the discussion on the latest tax bill making its way through the House. He delves into how this legislation stems from prior Republican strategies and advocates for corporate tax cuts to drive economic growth. The conversation reveals unexpected divisions within the Republican Party, especially regarding a recent vote to increase tax rates on the wealthy. Norquist also addresses the shifting priorities of the GOP to better appeal to blue-collar and middle-class voters.
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Trump's Tax Cuts Spur Growth
- Trump's tax bill cuts the corporate tax rate from 35% to 21%, boosting U.S. competitiveness.
- These tax reforms set a clear, permanent rule for growth and investment confidence.
Growth Can Reduce Deficits
- The bill combines $4.5 trillion in tax cuts with $1.2 trillion in spending cuts, addressing deficits.
- Economic growth fueled by tax cuts could generate $4 trillion extra revenue over a decade.
Block Grant Welfare to States
- Shift means-tested welfare programs to block grants for states to control spending growth.
- Competition among states can reduce costs significantly, as Clinton's welfare reform showed.