oday, Independent Women unveils poll results highlighting that the vast majority of Democrats, Republicans, and Independents overwhelmingly agree that Congress should pass legislation to extend the 2017 Tax Cuts and Jobs Act (TCJA) so individual income taxes don’t rise at the start of next year. The polling, commissioned by Independent Women’s Voice and conducted by Wick Insights, is a national representative sample of likely 2026 midterm voters.

According to the polling data, seventy-eight percent (78%) of both independent and women voters agree that Congress should extend the 2017 tax cuts, along with seventy-three percent (73%) of Democrats and seventy-two percent (72%) of voters between the ages of 18 and 34.

MORE POLL RESULTS HERE.

Taxes will rise on January 1, 2026, for virtually every taxpayer if Congress does not extend or make the 2017 tax cuts permanent.

Patrice Onwuka, director of Independent Women’s Center for Economic Opportunity, said: “Women, Gen Z, and independents are powerful demographic groups that shaped the 2024 election cycle. Our polling indicates their strong support for the tax cuts, which will be a surprise to many lawmakers but not to our organization, which speaks to women and young people every day. They want help dealing with the current affordability crisis. Allowing the tax cuts to expire will make tough financial situations worse for many women, young adults, and households.”

Carrie Sheffield, senior policy analyst at Independent Women’s Center for Economic Opportunity, said: “At a time when women and families are struggling with the more than 20% inflation spike under the Biden administration, we do not need a tax hike to make matters worse. Extending the Trump tax cuts will help bring prices down by lowering costs for businesses and increasing wages for workers, giving them greater capacity to absorb inflation shocks.” 

If Congress does not extend the 2017 tax cuts, women, small businesses, and households will suffer:

• The average taxpayer will see a 22% tax hike—a $1,695 tax increase for a family of four making the median U.S. income.
• The child tax credit will be slashed in half for 40 million families.
• 90% of taxpayers will see their guaranteed personal deduction cut by 50%.
• 26 million small businesses face a 43.4% top tax rate.

Despite the pervasive narratives that the TCJA only benefits the rich, the 2017 tax cuts have far-reaching benefits, delivering federal income tax cuts for individuals at virtually every income level, historic corporate tax cuts, and reforms to make U.S. companies competitive with foreign rivals. 

When President Trump enacted the Tax Cuts and Jobs Act in 2017:

• Real median household incomes grew by more than $5,000.
• 4.2 million Americans were lifted out of poverty, with poverty rates setting record lows.
• 12 million women-owned businesses received important tax incentives.
• U.S. companies added 4.7 million new jobs within the first two years.

Independent Women Features (IW Features), the grassroots storytelling and original journalism arm of Independent Women, launched its “Earn More, Pay Less: How America Grew Under the Trump Tax Cuts” series in March. Through firsthand accounts, “Earn More, Pay Less” pushes back on the myth that tax cuts only benefit the wealthy, showcasing real-life impact of tax relief on middle-class families, small business owners, and job creators.

Read more about the economic impact of tax cuts through IW Features’ “Earn More, Pay Less” series:

• Iowa Corn Farmer Warns of Widespread Economic Fallout if Trump’s Tax Relief Expires
• Jolene Riessen is a farmer from rural Iowa
• Under the 2017 Tax Cuts and Jobs Act, bonus depreciation for equipment and increased estate tax exemption helped her family farm. Expired tax cuts could force her out of business.
• Iowa Business Owner Sounds the Alarm on Expiring Tax Cuts
• Lana Pol is the President and Owner of Geetings, Inc. in Pella, Iowa
• The 2017 Tax Cuts and Jobs Act allowed Pol to reinvest in her employees and expand operations. If the tax cuts expire, Pol fears business closures and job losses.

www.iwf.org  

Independent Women advances policies that actually enhance opportunity and well-being.

Independent Women's Center for Economic Opportunity aims to educate the public about how government policies impact people's opportunities for economic development and upward mobility.