#TrumpTaxCuts

Trump proposes to reduce the corporate tax rate from 21% to 15% for companies that manufacture in the United States.

Additionally, he plans to extend the tax cuts from the Tax Cuts and Jobs Act (TCJA) of 2017, which expire in 2025, benefiting various income levels.

To offset the loss of tax revenue, Trump suggests imposing tariffs of 10% to 20% on all imports and up to 60% on Chinese products.

Although these tariffs could generate additional revenue, experts warn that they could increase consumer prices and negatively impact low-income households.