Reported 1 day ago
As Americans approach 2025, the focus on Trump's tax policies becomes pivotal. During his campaign, he unveiled numerous tax cut promises, including eliminating taxes on tips and social security benefits. Expert Terry Haines suggests that the tax on tips is most likely to pass through Congress, highlighting the political necessity of appealing to Republican members from New York and New Jersey for support. Additionally, Haines discusses the implications of these tax cuts on the federal deficit, estimating a potential increase of $3 trillion over the next decade, which may concern market reactions.
Source: YAHOO