Trump laid out six tax priorities in a gathering with Congress

The WSJ reviews that Trump highlighted six priorities:

1. No tax on ideas, Social Safety, extra time pay
2. Renew 2017 tax cuts
3. Modify SALT cap
4. Remove tax breaks for “billionaire sports activities workforce homeowners”
5. Shut carried curiosity tax deduction loophole
6. Tax cuts on merchandise made in America

I discover it attention-grabbing that the phrase ‘renew’ is used right here on the 2017 tax cuts as Bessent earlier was speaking about making it everlasting. Although with Congressional spending guidelines, it might be extraordinarily exhausting to make it everlasting anyway.

As for all of this, it should be an actual battle. The US deficit proper now’s 7% of GDP. There may be loads of noise about DOGE chopping USAID spending however that is simply zero.7% of all US spending. The true meat of it’s curiosity (cannot reduce that), protection, medicare/medicaid. Good luck chopping in these.

This text was written by Adam Button at www.ubaidahsan.com.



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