Trump says he will keep taxes low as a $50 million fundraising event for billionaires

WASHINGTON — Former President Donald Trump has emphasized the importance of extending his signature tax cuts to some of the nation's wealthiest political donors. Personal opinions provided by a Trump campaign official on Saturday night.

“Trump talked about the need to win back the White House so we can turn our country around by focusing on key issues, including unleashing energy production, securing our southern border, reducing inflation, extending the Trump tax cuts, and ending Joe Biden's insanity. [electric vehicle] mandate, protecting Israel and avoiding global war,” the campaign official said of the roughly 45-minute speech to donors in Palm Beach, Florida.

The campaign declined requests from NBC News to have a reporter present for his comments and to make available a full transcript of them.

The dinner, held at the home of billionaire hedge fund investor John Paulson, raised $50.5 million, according to Trump senior advisers Susie Wiles and Chris LaCivita. A joint fundraising effort Trump's campaign benefits his Save America political action group, the Republican National Committee and state parties. That's nearly twice as much as President Joe Biden's campaign of $26 million said It was raised at a star-studded Radio City Music Hall show last month by former presidents Barack Obama and Bill Clinton.

In a video released Saturday, Biden attacked Trump for promising to extend the 2017 tax cuts beyond 2025.

“When he thinks the cameras aren't rolling, he quotes his rich friends saying, 'We're going to give you tax cuts,'” Biden said in the video, Sen. Bernie Sanders, I-Vt., says as he stands by. A leading progressive running against Biden in the 2020 Democratic presidential primary.

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Trump appeared to be seeking record donations from the nation's elite — a collection that includes billionaires such as sugar tycoon Jose “Pepe” Fanjul Sr., oil tycoon Harold Hamm and Johnson & Johnson heir Woody Johnson. A political movement fueled by populist themes.

“People want change,” he told reporters when he arrived at Paulson's home. “Rich people want it. Poor people want it. Everybody wants change.”

During his remarks, Trump praised the donors in attendance.

“We have expertise in this room and it's incredible — every one of you are leaders,” the campaign official said.

From the head table, Trump spoke for about 45 minutes to 117 guests seated under a large tent, a campaign official said. Afterwards, they ate endive and frisee salad with fresh berries, filet au poivre and pavlova.

Trump's defeated primary opponents, Sen. Tim Scott, RSC, businessman Vivek Ramaswamy and North Dakota Gov. Doug Bergham — along with Republican National Committee co-chairs Laura Trump and Michael Whatley — also addressed the crowd. .

Trump's 2017 tax cuts lowered income tax rates for most Americans, including high earners and very low-income workers. Many of its provisions expire in 2025, and so-called pass-through businesses — including a loophole for owners of untaxed companies that allow profits to flow to separately taxed owners — are favored by hedge funds. , private equity partnerships and privately held companies. Liberal-leaning, nonpartisan center for budget and policy priorities Estimated Extending the pass-through deduction would cost the government $700 billion in lost revenue over a decade.

This article was originally published NBCNews.com

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