How Trump's Tax Plans Could Affect Your Finances
TL;DR Summary
Donald Trump has promised to extend his 2017 tax cuts, which could lower taxes for many Americans but increase the national debt by over $4 trillion in the next decade. His proposals include eliminating taxes on tips and Social Security benefits, which could lead to budgetary challenges and affect Social Security funding. While these cuts may benefit some taxpayers, they could have broader economic implications.
- Trump has promised lower taxes. These are 3 ways it could impact you NPR
- Trump’s tax proposals are a step closer to reality. Here’s what it means for your portfolio CNBC
- House, Senate GOP battle over length of Trump tax cut extension The Hill
- Republicans Ponder: What if the Trump Tax Cuts Cost Nothing? The New York Times
- Framing the upcoming tax debate: 5 issues, 4 paths Brookings Institution
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