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Trump and the expiration of the TCJA: Here's what's next for your tax bill

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The Tax Cuts and Jobs Act (TCJA), a massive overhaul of the tax code, is set to expire at the end of 2025. Here's what could happen.
The article from AOL Finance discusses the potential expiration of the Tax Cuts and Jobs Act (TCJA) in 2025, which was signed into law by former President Donald Trump in 2017. Key points include the reduction of individual tax rates, an increase in the standard deduction, and changes to estate and corporate taxes. If not extended or modified by Congress, these tax cuts will revert to pre-TCJA levels, potentially leading to higher taxes for many Americans. The article highlights the political debate surrounding the TCJA, with Democrats generally advocating for its expiration or modification to fund social programs, while Republicans push for its extension to maintain economic growth. The looming deadline has sparked discussions on tax policy, economic strategy, and the fiscal implications of either allowing the tax cuts to expire or making them permanent.

Read the Full AOL Article at:
[ https://www.aol.com/finance/trump-expiration-tcja-next-tax-090000569.html ]