#TrumpTaxCuts As of April 28, 2025, President Donald Trump and congressional Republicans are actively working to make the 2017 Tax Cuts and Jobs Act (TCJA) permanent, alongside introducing new tax reforms. These efforts are central to Trump's economic agenda but face significant fiscal and political challenges.

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๐Ÿงพ Key Proposals in Trump's 2025 Tax Plan

- *Permanent Extension of TCJA Provisions*: The plan aims to solidify individual and estate tax cuts that are set to expire at the end of 2025. This includes maintaining lower income tax rates, an increased standard deduction, and a higher estate tax exemption. [1]

- *Tax Exemptions for Specific Income Types*: Proposals include eliminating federal income taxes on tips, overtime pay, and Social Security benefits, targeting relief for working- and middle-class Americans. [2]

- *Corporate Tax Reductions*: A reduction of the corporate tax rate from 21% to 20% is proposed, with a further decrease to 15% for companies manufacturing goods domestically. This is intended to incentivize domestic production and job creation. [1]

- *Adjustments to SALT Deduction*: Lawmakers are considering temporarily doubling the 10,000 cap on state and local tax (SALT) deductions for married couples, potentially reducing federal revenues by170 billion. [3]