Business and Finance Business and Finance
Thu, February 6, 2025
[ Thu, Feb 06th ] - MSN
Trump's Tax Torpedo

Trump's Tax Torpedo


Published on 2025-02-06 10:40:48 - MSN
  Print publication without navigation

  • And so, quietly and with no fanfare or fuss, we have a new Economy Minister. One minute, Conor Murphy was out and about doing his usual photocalls. Next minute, he'd left the Ministerial job behind, bid farewell to his chauffeur driven Skoda and hopped on the Enterprise down to Dublin and a new job as

The article from MSN discusses the potential economic impact of former President Donald Trump's tax policies, particularly focusing on the Tax Cuts and Jobs Act (TCJA) of 2017. It highlights how these tax cuts, which are set to expire in 2025, could lead to significant changes in the U.S. tax landscape. Key points include the reduction in individual tax rates, the doubling of the standard deduction, and changes to estate taxes, all of which are temporary. The article warns that if these tax cuts are not extended, there could be a substantial increase in tax liabilities for many Americans, potentially leading to economic disruption. It also mentions the political debate surrounding these tax policies, with some advocating for their extension while others argue for their expiration or modification to address fiscal deficits. The piece underscores the uncertainty and the looming "tax torpedo" that could hit taxpayers if Congress does not act to extend or reform these provisions.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/money/other/trump-s-tax-torpedo/ar-AA1ywOXj ]
Contributing Sources