#TrumpTaxCuts

Congressional Republicans are pushing to extend Trump’s 2017 tax cuts, set to expire in 2025, aiming to make them permanent. The plan includes tax breaks for those earning under $200,000, funded partly by tariffs and $1.5-$2 trillion in spending cuts, potentially targeting Medicaid and green energy. However, internal GOP divisions and skepticism from economists about tariff revenue replacing income taxes complicate the effort. Public support wanes as tariffs may raise consumer prices, disproportionately affecting lower-income households. Despite an ambitious Memorial Day target, political and fiscal hurdles suggest a scaled-back bill by July, balancing tax cuts with spending reductions.