#TrumpTaxCuts As of April 2025, former President Donald Trump has not enacted new tax cuts, but he and Congressional Republicans are actively working to extend and expand the 2017 Tax Cuts and Jobs Act (TCJA). That legislation lowered tax rates for individuals and corporations, but many of its provisions are set to expire by the end of 2025. Trump’s current push aims to make those cuts permanent and introduce new tax breaks for sectors like manufacturing and auto loans.
Trump has also floated the idea of reducing or eliminating income taxes for individuals earning under $200,000, claiming that increased revenue from tariffs could offset the loss in tax revenue. However, these proposals face significant challenges. Republicans are proposing $2 trillion in spending cuts to help cover the estimated $4.5 trillion cost of extending the tax cuts, but there is internal disagreement, especially over reductions to Medicaid and other federal programs.
Analysts warn that the full range of proposed tax cuts could increase the national debt by up to $9 trillion over the next decade. Critics also point out that a large share of the
