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The law, which is set to expire next year, changed the federal tax code in several ways that affect the middle class. “President-elect Trump’s tax plan is designed to provide much-needed ...
President Biden and Democrats have derided the law as a tax cut for the rich — but Bessent countered that working- and middle-class Americans would bear the brunt of the economic disruption ...
Much has been written about how President-elect Donald Trump's tax policies might affect the rich, the poor and the middle class -- but what about those in the upper middle class who are doing ...
The Republican push to extend and deepen tax cuts enacted in 2017 represents "a MAGAnomics economic agenda that would trigger an 'inflation bomb' and raise costs for middle class families," White ...
The TCJA made other significant changes to the tax code, including doubling the standard deduction, or the amount of money taxpayers can subtract from their annual before income tax is applied. It ...
The wide-ranging tax cuts a Republican Congress and Trump pushed through in late 2017 are set to expire at the end of 2025 — except for the corporate tax-rate cut, which doesn’t expire. It’s ...
Here are three reasons Damsky said eliminating this major tax could hurt the middle class. Inflation Would Soar As noted above, the federal government gets the bulk of its revenue from individual ...
If he were to win an extension of the 2017 tax cuts, it would mean the standard deduction would remain at elevated levels, rather than being rolled back — something that could help the middle class.