‘Grow the damn economy’: Billionaire Ken Griffin warns Trump made a mistake cutting taxes as the national debt tops past $40 trillion
Source: Fortune ·
The Republican megadonor says Washington lacked room to renew tax cuts after pandemic spending, while criticizing Trump’s tariffs.
From the source
Ken Griffin has spent millions helping Republicans win elections. But the Citadel founder says President Donald Trump and his party made a mistake by renewing tax cuts without room in the budget to pay for them. “We didn’t have the fiscal space to renew the tax cuts,” Griffin said Tuesday at the Future of Global Markets Conference in New York, pointing to the government’s heavy pandemic spending and a national debt that has surpassed $40 trillion. His criticism centers on Trump’s One Big Beautiful Bill Act, which kept the lower individual income tax rates from the president’s 2017 overhaul permanent, instead of letting them expire at the end of 2025. Along with preventing that tax increase, the law added deductions for qualifying tips and overtime pay, as well as certain auto loan interest. However, preserving those savings for taxpayers also means Washington collects less revenue than it would have if the cuts had expired. With the government already spending more than it brings in,…