EDITORIAL: Trump’s tax cuts, deregulation power growth

Economic freedom and economic growth remain intertwined. When he speaks in Las Vegas on Wednesday afternoon, President Donald Trump should emphasize how he has increased both.

The president is likely to promote the tax cut provisions from last year’s One Big Beautiful Bill. One often overlooked provision is that the bill made permanent the lower tax rates first established by the 2017 Tax Cuts and Jobs Act. Without this bill, those tax rates would have expired at the end of last year. Thanks to Mr. Trump and congressional Republicans, Americans will continue to enjoy lower tax rates, an increased standard deduction and a larger child tax credit.

At a 2024 Las Vegas rally, Mr. Trump first called for “no tax on tips.” Given Southern Nevada’s large service industry, his plan proved quite popular here. It likely contributed to Mr. Trump’s victory in Nevada in 2024.

True to his word, Mr. Trump’s One Big Beautiful Bill allows workers to exempt tips up to $25,000. Expect him to highlight this and that Nevada’s congressional Democrats voted against it.

There’s another interesting backstory. Shortly after Mr. Trump unveiled his “no tax on tips” idea, the Culinary union blasted the idea. “Nevada workers are smart enough to know the difference between real solutions and wild campaign promises,” Ted Pappageorge, secretary-treasurer for the union, said.

But then Democrats tried to co-opt the idea. Mr. Pappageorge and his union changed their tune and supported it. Now, the union is upset the provision isn’t permanent.

Mr. Trump would also do well to draw a contrast with Francesca Hong, the Democratic Party’s top candidate to be Wisconsin governor. During a 2020 leadership summit, she said the service industry is “rooted in white supremacy.” She called tipping “racist.” Those in Nevada’s service industry should know what some Democrats think of their profession.

Tax cuts aren’t the only way Mr. Trump is helping the economy. His administration is also slashing regulations. In January 2025, Mr. Trump signed an executive order requiring agencies to eliminate 10 regulations for every new regulation issued. In February, the Trump administration revoked the “Greenhouse Gas Endangerment Finding” from the Obama administration. That regulation paved the way for the EPA to regulate emissions from gas-powered vehicles. Now, the EPA estimates its repeal “will save Americans over $1.3 trillion.”

Not every action by Mr. Trump is as laudatory. While there are national security implications, tariffs and the government buying stakes in private companies don’t increase economic freedom. But Mr. Trump has a persuasive story to tell. Especially compared to the left’s agenda, his tax cuts and deregulatory efforts are helping to power the American economy.