Reported 6 months ago
Ahead of the November elections, the focus is on tax policies, particularly Donald Trump's proposed $10-$12 trillion tax cuts benefiting wealthy households primarily through making expiring 2017 Tax Cuts and Jobs Act (TCJA) provisions permanent. The TCJA included cuts in estate, wealth, and individual income taxes, favoring high earners, small business owners, and real estate investors. Trump's plan aims to maintain these tax rates permanently, influencing voters' choices with Joe Biden proposing different tax rates. While Trump's previous tax plan drew criticism for favoring the wealthy, this time, the campaign assures additional cuts for working-class Americans, potentially including small business incentives.
Source: YAHOO