#TrumpTaxCuts Donald Trump's tax cut strategies are centered around extending the 2017 Tax Cuts and Jobs Act, which is set to expire in 2025. His proposals include¹ ²:

-Extending Tax Cuts: Trump wants to make the individual tax cuts permanent, which would benefit taxpayers with incomes under $200,000. He also proposes eliminating taxes on Social Security benefits and income from tips.

-Corporate Tax Rate Reduction: Trump aims to lower the corporate tax rate from 21% to 15%.

-Child Care Credit: He plans to enhance the child care credit, providing more relief to families.

-Tariff-Funded Tax Cuts: Trump claims that tariffs could generate enough revenue to eliminate income taxes for individuals earning under $200,000. However, economists question the feasibility of this proposal, citing the limited scope of tariff income relative to federal budgets.