#TrumpTaxCuts

Starting in April 2025, President Donald Trump is advocating for a substantial tax reform package aimed at making the Tax Cuts and Jobs Act of 2017 permanent. The proposed plan includes the elimination of federal taxes on tips, Social Security benefits, and overtime pay, as well as the introduction of new deductions for manufacturers and auto loans. However, the initiative faces significant challenges due to internal disagreements among Republicans over funding mechanisms and concerns about the rising national debt, which could increase by up to $5.8 trillion over the next decade if the cuts are not offset. House Republicans are striving to finalize the bill by Memorial Day, but intra-party divisions, particularly regarding Medicaid cuts and the cap on state and local tax (SALT) deductions, complicate the process.