#TrumpTaxCuts Donald Trump announced plans to extend the tax cuts from 2017, which are set to expire at the end of this year. He proposed a reduction or even elimination of income taxes for individuals with an annual income below $200,000, funded by revenue from tariffs. Meanwhile, Republicans in Congress are working on legislation that includes tax cuts along with spending on defense, energy, and immigration policies. However, this plan has faced criticism due to concerns about the rising national debt.