Part 6/8:
One of the administration’s top priorities is the renewal of tax cuts implemented during Trump’s first term. The expiration of the Tax Cuts and Jobs Act at the end of 2025 represents an urgent matter for Trump and Republican lawmakers. Based on past performance and ongoing political negotiations, this renewal appears to be highly probable.
Adjusting the SALT Cap
The SALT cap, which limits the deduction of state and local taxes to a maximum of $10,000, has prompted mixed reactions among constituents, particularly in high-tax states. A potential adjustment or increase of this cap could serve as a negotiation tool while addressing the concerns of both Democrats, who primarily win in higher-tax regions, and Republicans.