Trump’s Tax Policy Promises Set For Major Overhaul Significant reforms on tariffs, tax cuts, and the national debt define Trump's new agendaWith Donald Trump back as president and the Republicans regaining control of Congress, the U.S. tax policy is poised for some significant transformations. His administration is expected to push for elements of his Tax Cuts and Jobs Act of 2017 (TCJA) to be extended permanently. One major focus of Trump’s proposed tax plan is on tariffs as a tool for fiscal policy. The risks involved with trumpeting tax cuts could mean they come with potentially severe repercussions for the national debt. Faced with the reality of implementing extensive long-term policies, Trump's fiscal advisors are bracing for intense negotiations.

Source: Washington Post November 08, 2024 13:45 UTC