Trump's Tax Cut Ambitions Face Fiscal Challenges and Future Changes

President Trump's ambitious tax cut promises face significant challenges, even with a potential GOP sweep in Congress. While former Treasury Secretary Steve Mnuchin is optimistic about extending the 2017 tax cuts, experts warn of difficulties due to rising national debt and economic concerns. The GOP may struggle to balance individual and corporate tax cuts, with some Republicans insisting on offsetting revenue. The reconciliation process could be used to pass tax legislation, but Social Security tax cuts may be difficult to achieve. Additionally, tariffs and repealing parts of the Inflation Reduction Act are considered as potential revenue sources.