Theeconomy was a top concern for votersduring the presidential election, outranking health care, foreign policy and crime.
Not all of Trump’s policy details are spelled out, and many require congressional approval.
If the administration carries out either or both, prices could spike in the US.
“Fewer workers in those and other areas would put upward pressure on labor costs and prices.”
The TCJA was passed during Trump’s first administration in 2017.
The TCJA lowered five out of the seven tax rates.
A higher standard deduction.Most taxpayersclaim the standard deduction.
The TCJA nearly doubled the amount you receive.
Increased Child Tax Credit.you could receiveup to $2,000 through the CTC, up from the previous $1,000.
The incoming administration isn’t planning to extend all tax breaks, however.
Social Security benefits could be in jeopardy
Trump has also proposed eliminating taxes on Social Security benefits.
New retirement rules from theSECURE 2.0 Actin 2025 might make it easier for you to save for your future.
She also suggests reviewing other income-driven repayment plans now, in case SAVE is struck down.
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