#TrumpTaxCuts Key Provisions of Trump's Tax Initiative

• Permanent Extension of Individual Tax Benefits of TCJA: It is proposed to make permanent the temporary provisions of the TCJA that are set to expire in 2025.

• New Tax Benefits: Includes tax deductions for manufacturers and buyers of auto loans.

• Tax Cuts for Individuals: Trump proposes a reduction or even elimination of income tax for citizens earning less than $200,000 a year, funding this through revenue from tariffs.

• Shift to Consumption Tax: As part of the 'Project 2025', a shift from income tax to a national consumption tax is being considered, simplifying the tax system to two rates: 15% and 30%.