Trump-era TCJA tax cuts set to expire after 2025. Here's what to know

  • by:
  • Source: CNBC
  • 05/20/2024

Most Americans have paid lower income taxes since 2018 — and trillions in tax breaks will sunset next year without action from Congress.

Enacted by former President Donald Trump, the Tax Cuts and Jobs Act of 2017, or TCJA, temporarily changed several key provisions for individual taxpayers. A battle over these expirations is looming amid the federal budget deficit.

“It’s enormous,” said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center. “Pretty much the entire individual income tax code is on the table at the end of 2025.”

President Joe Biden and Trump, who are both campaigning for the presidency, have voiced similar positions on extending middle-class TCJA provisions. But it’s tough to predict the future of these tax breaks with control of the White House and Congress uncertain.

President Trump in Seoul by Trump White House Archived is licensed under flickr Public Domain Mark 1.0

Help FAIRtax Become The Number One Issue in 2024

Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!

Help out with a One-Time Contribution

Your gift of $25, $50, $100 – even $1,000 or more if you can possibly spare it – will help bring an end to the IRS and promote a FAIRtax. So, I urge you, please give as generously as you can.

Billing information (REQUIRED)

Payment information (REQUIRED)

To donate by check:
Americans for Fair Taxation
PO Box 4929
Clearwater, FL 33758

If you need to make changes to your existing Monthly Re-Occurring Donation with new card or billing address information, then Please call Adam Yomtov our New York State Co-Director. He is assisting with the administration of our donations, technology services, and website.

Please note: Inputting your new information at our website won't update your donation. The only way to update is by calling Adam Yomtov 917-689-3931 mobile.

Americans for Fair Taxation® is a 501(c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. We rely entirely on contributions from concerned citizens like you who want a tax system that will generate jobs and stimulate the economy. Welcome to the FAIRtax team!