#TrumpTaxCuts what does it mean to the crypto industry ❓

As of April 28, 2025, President Donald Trump and congressional Republicans are intensifying efforts to extend and expand the 2017 Tax Cuts and Jobs Act (TCJA). The proposed legislation aims to make individual tax cuts permanent and introduce new tax breaks, including those for manufacturers and auto loans. However, the initiative faces significant challenges, including intra-party disagreements and concerns over the projected $4.5 trillion cost over a decade. ​

Key points of contention include the cap on state and local tax (SALT) deductions, with some Republicans advocating for an increase to benefit constituents in high-tax states. Additionally, proposed spending cuts to offset the tax reductions, such as reductions in Medicaid and limits on business deductions, have sparked debate within the party. ​

Analysts warn that extending the tax cuts without adequate offsets could exacerbate the national debt, potentially leading to higher interest rates and reduced economic growth.