The sweeping Trump-era tax cuts in the Tax Cuts and Jobs Act of 2017 are set to expire next year, setting up the tax debate as a potentially key political issue this election year.
While illegal immigration and inflation top Americans’ list of concerns, both parties are increasingly talking about the Trump-era tax cuts, which President Joe Biden has said he will allow to expire next year.
President Donald Trump, meanwhile, has promised more tax cuts if elected.
“You’re all getting the biggest tax cuts because we’re doing additional cuts and a brand new Trump economic boom like you’ve never seen before,” Trump told supporters at a South Carolina rally in February.
As The Center Square previously reported, the issue came to a head last week when the CBO released a report estimating that extending the Trump tax cuts would increase the national debt by $4 trillion over the next decade.
