#TrumpTaxCuts [](https://itep.org/federal-tax-debate-2025-trump-tax-changes/)

As of April 2025, President Donald Trump and congressional Republicans are working to make the 2017 Tax Cuts and Jobs Act (TCJA) permanent. The TCJA's individual and estate tax provisions are set to expire at the end of 2025, and extending them is projected to cost approximately $4 trillion over the next decade. ([What Trump's next 100 days will mean for taxes, markets and your wallet](https://www.marketwatch.com/story/what-trumps-next-100-days-will-mean-for-taxes-markets-and-your-wallet-af40a36d?utm_source=chatgpt.com), [Permanently Extending the Trump Tax Cuts Would Cost $4 Trillion Over the Next Decade - Center for American Progress](https://www.americanprogress.org/article/permanently-extending-the-trump-tax-cuts-would-cost-4-trillion-over-the-next-decade/?utm_source=chatgpt.com))

**Key Proposals:**

- **Permanent Extension of Individual Tax Cuts:** The plan aims to solidify the individual tax cuts introduced in 2017.

- **New Tax Breaks:** Proposals include eliminating taxes on tips, Social Security income, and overtime pay.

- **Adjustments to SALT Deduction Cap:** Consideration is being given to modifying the state and local tax (SALT) deduction cap, which could benefit taxpayers in high-tax states. ([What Trump's next 100 days will mean for taxes, markets and your wallet](https://www.marketwatch.com/story/what-trumps-next-100-days-will-mean-for-taxes-markets-and-your-wallet-af40a36d?utm_source=chatgpt.com), [Republicans sprint to wrap up Trump's tax bill](https://www.politico.com/news/2025/04/27/republicans-sprint-to-wrap-up-trumps-tax-bill-00311806?utm_source=chatgpt.com))

**Fiscal Implications:**

Analyses indicate that extending the TCJA provisions could significantly increase the national debt. The Center for American Progress estimates a 54% increase in the fiscal gap, making debt stabilization more challenging. Additionally,