Many provisions of President Trump’s signature 2017 Tax Cuts and Jobs Act, or TCJA, are set to expire at the end of 2025. Democrats warn that extending the cuts will come at the expense of programs that help Americans, with the Committee for a Responsible Budget estimating that Trump’s tax priorities would reduce government revenues between $5-11 trillion over 10 years. So how have the cuts affected individuals and businesses since 2017?
WSJ spoke to three economists who specialize in corporate taxes, pass-through business taxes and taxes for individuals about the fiscal impact of the cuts.
Chapters:
0:00 Trump’s 2017 tax cuts
0:36 Impact of corporate tax cuts
2:45 Impact of “pass-through” tax cuts
4:20 Impact of individual tax cuts
5:31 What’s next for Trump 2.0 tax bill?
News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.
#Trump #Tax #WSJ