The recent nomination of E.J. Antoni by President Donald Trump to head the Bureau of Labor Statistics (BLS) could potentially influence tax rates for Americans.
Antoni’s Inflation Plan Could Raise Taxes For Millions
Antoni’s nomination has sparked concerns due to his past work critiquing the government’s cost of living measures. Antoni, along with economist Peter St. Onge, proposed an alternative inflation measure, asserting that the U.S. economy had been in recession for seven out of 10 quarters since 2022, stated Mr. Daniel Bunn, President and CEO of the Tax Foundation and Mr. Kyle Pomerleau is a senior fellow at the American Enterprise Institute, in a Wall Street Journal op-ed.
The Internal Revenue Service (IRS) adjusts tax thresholds annually to account for inflation, a process known as indexing. These adjustments depend on the consumer price index (CPI) published …