#TrumpTaxCuts **Trump Tax Cuts: Key Points in 100 Words**

Congress is advancing a $4.5 trillion extension of the 2017 Tax Cuts and Jobs Act (TCJA) via budget reconciliation, allowing deficit-financed tax cuts without Democratic support . Key provisions include:

- Extending individual tax cuts (set to expire in 2025), preserving lower rates and doubled standard deductions .

- Restoring business tax breaks like full bonus depreciation and R&D expensing .

- Adding new policies: no taxes on tips, overtime, or Social Security benefits .

Analyses show the wealthy benefit disproportionately (top 10% gain 56% of cuts), but middle-income households save ~$1,030/year . Critics warn of $9 trillion added to deficits and potential spending cuts to Medicaid/SNAP .