#TrumpTaxCuts

In April 2025, President Donald Trump has pushed for a tax reform focused on permanently extending the cuts established in the Tax Cuts and Jobs Act (TCJA) of 2017, which expire at the end of this year. This proposal aims to maintain lower tax rates for individuals and businesses, tax exemptions for tips and overtime, and expand standard deductions, with the intention of stimulating economic growth and employment. However, the initiative has caused divisions even within the Republican Party, especially over the proposed offset measures, which include significant cuts to social programs like Medicaid, SNAP, and subsidies for clean energy. It is estimated that extending the cuts could cost up to $4.5 trillion over a decade. While proponents promise a 1.1% increase in GDP and more than 800,000 new jobs, critics warn of a possible increase in the fiscal deficit and a public debt that could reach 212% of GDP by 2060. Congress faces a deadline until July 4 to approve or reject the legislation, amid intense debates about its viability and tax fairness.