Trump's Second Term: Tax Changes

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major tax break

Bankrate

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Trump’s back in office — here’s what to expect for your taxes in 2025 and beyond

Summary

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83% Informative

Many tax provisions are set to expire at the end of 2025 , leaving an opportunity for the president to extend, and potentially expand, his tax policy agenda.

Under the Tax Cuts and Jobs Act (TCJA) of 2017 , the top tax rate for high-income earners was lowered to 37 percent , from 39.6 percent .

President Trump has proposed “taxing imports at a rate of up to 60 percent ,” Brandi M. Samuel says.

Samuel says that business owners should start planning and negotiating vendor prices to stay strategically competitive.

Samuel : Customers who purchase goods are likely to also experience financial strain if these tariffs are enacted.

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formal

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English

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