#TrumpTaxCuts This year, Trump proposed new tax cuts, seeking for people to pay less, especially those earning less than $200,000 a year. He also wants to eliminate taxes on Social Security benefits. However, that could affect the system's finances in the future.

At the same time, he increased tariffs (taxes on imported products). There is now an extra 10% for all imports and higher rates for countries like China. This is already causing prices in stores to rise and affecting small businesses.