President-elect Trump could put more money in Americans’ pockets with a raft of tax code changes, insiders and experts said.
On the campaign trail Trump repeatedly promised to slash taxes on tips and social security benefits, and suggested the total elimination of income taxes with the hope or replacing the revenue with tariffs.
With the signature tax cuts of Trump’s first term set to expire in 2025, and the high likelihood Republicans will have full control of Congress, extending and even expanding tax changes are high on his agenda.
Chief among the wish-list items of an expanded tax cut program would be lowering corporate tax rates.