What did Donald Trump claim about taxes on 5 Oct 2024?
Donald Trump, Former President of the United States and Republican presidential candidate ·
We did more revenue when we had it at 21 than when it was at 39. Think of it. Much more. The following year we did much more.
Corporate tax revenue fell after the rate cut and stayed lower for the rest of his term. Treasury collected $297.0 billion in corporate income taxes in fiscal 2017, then $204.7 billion in fiscal 2018, $230.2 billion in fiscal 2019 and $211.8 billion in fiscal 2020.
The Monthly Treasury Statement (Table 4, receipts by source) shows net corporation income tax receipts of $297.05 billion for fiscal year 2017, before the rate cut, then $204.73 billion for fiscal 2018, $230.24 billion for fiscal 2019 and $211.84 billion for fiscal 2020 (U.S. Treasury, Monthly Treasury Statement via Fiscal Data).
Claim vs. the record · Taxes
Added
The claim
- Date
- Where
- Campaign rally in Butler, Pennsylvania.
The record
Primary source (agency data)