#TrumpTaxCuts Donald Trump's tax cut plans are making headlines, with the president promising the "largest tax cuts in history" without affecting Medicare and Social Security. Trump's proposals include¹ ²:

- *Key Tax Cuts:*

- Eliminating taxes on tips, overtime, and Social Security benefits

- Reducing corporate tax rates to stimulate investment and growth

- Renewing the 2017 Tax Cuts and Jobs Act

- *Potential Impact:*

- Estimated cost: $8-$10 trillion over a decade

- Potential benefits: increased disposable income, economic growth, and job creation

- Concerns: strain on federal budget, potential increases in national debt

Treasury Secretary nominee Scott Bessent emphasizes extending Trump tax cuts is crucial, warning that failure to do so could lead to economic calamity for middle- and working-class Americans.