#TrumpTaxCuts

Donald Trump has proposed extending the 2017 Tax Cuts and Jobs Act (TCJA), which is set to expire at the end of 20252. His plan includes reducing income taxes for individuals earning less than $200,000 annually, exempting workers' tips and Social Security earnings, and lowering the corporate tax rate from 21% to 15%2.

Trump has also suggested replacing income taxes with tariff revenue, though economists question its feasibility5. The proposal aims to offset the impact of his sweeping tariffs, which have disrupted global markets