Republicans are currently debating whether and how to extend the tax cuts introduced during former President Donald Trump's administration, which are set to expire after 2025. The 2017 tax cuts significantly reduced the corporate income tax rate and provided a $2 trillion benefit to corporations and the ultra-wealthy. However, the extension of these tax cuts could cost an estimated $4 trillion, and there is uncertainty among Republican lawmakers, including Rep. Chip Roy, on how to finance this extension. If Congress does not act by December 31, 2025, marginal income-tax rates will increase, affecting more than 60% of households. The HouseGOP has promised a full extension of the Trump-Pence tax cuts if they control Congress and the White House in 2025.
Republican lawmakers say they want to extend former President Donald Trump's tax cuts that will lapse after 2025, but they're undecided on how the estimated $4 trillion cost to do that will be covered, if at all. https://t.co/DVA1YSrPvT
“If Congress doesn’t act by Dec. 31, 2025, marginal income-tax rates would climb…More than 60% of households would see tax increases..”-WSJ The American people deserve to know where Every Candidate stands on keeping all the Trump-Pence Tax Cuts of 2017!🇺🇸https://t.co/3RazL6sH1b https://t.co/dwbkF0vUD4
Corporations & the ultra wealthy got a $2 TRILLION tax cut thanks to Trump's giveaway #GOPTaxScam. Now, they are spending millions to get even more. The payoff? @HouseGOP is promising a full extension of the #GOPTaxScam if Republicans control Congress & the White House in 2025. https://t.co/D6BycJAVGS
Republicans are deciding whether—and how—to pay for extending the tax cuts that are scheduled to lapse after 2025 https://t.co/8LuQsEbcjD https://t.co/8LuQsEbcjD
The 2017 Trump tax cuts slashed the corporate income tax rate. But it’s not 2017 anymore — and ideological fault lines are appearing among Republicans. @LauraEWeiss16 with thoughts from both sides of Congress (and a few choice words from Rep. Chip Roy): https://t.co/nBqkJjx2sG