Trump Tax Cuts Expected to Lift Wages for Hardworking Americans, Heritage Economist Asserts

By Sam Barron | Friday, 02 January 2026 10:49 PM EST

E.J. Antoni, chief economist at the Heritage Foundation, told Newsmax Friday that new tax breaks passed under the Trump administration will benefit all Americans.

Antoni said businesses will become more powerful due to legislation allowing them to deduct their full expenses.

“That’s going to not only make businesses more profitable but also allow them to hire more people,” Antoni stated on “Greg Kelly Reports.”

“And those workers they hire will pay less in taxes through things like no tax on tips and no tax on overtime,” he added.

“It really is amazing how this combination of tax reform and regulatory reform is helping all the dials line up this year for 2026,” Antoni said.

Antoni noted Americans who work hardest stand to benefit most.

“The people working for tips, those putting in extra hours — including blue-collar workers laboring long shifts — are really going to benefit from this,” he explained.

He claimed the affordability crisis many consumers face began under former President Joe Biden but believes Trump is turning the economy around.

“The whole reason Trump was sent back to Washington is because of how lousy the economy was doing under Biden. People’s real wages fell under Biden,” Antoni said.

“And now under Trump, they’re actually picking up over the last year — up about 1.5%,” he added.

“We’re moving in the right direction,” Antoni stated. “We haven’t yet regained all the lost ground from the Biden years, and I think that’s why people are unhappy.”