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Which provisions of the Tax Cuts and Jobs Act Should Expire in 2025?

Summary:
The issue of the Tax Cuts expiring will be arriving at everyone’s doorstep come the end of 2025. They do not give an exact date so i will go with EOM December 2025. Does someone making close to or more than 0,000 annually deserve a continuation into 2026 and beyond? Not sure. I think the 1 percenter should be paying more tax. My wife and I paid some high taxes (what we would call high) when we were under 0,000 annually after deductions. That was near the end of our careers so this was not lifestyle changing for us. Trump tossing a tax break to the one percenter through to the one-tenth of one percenter has to come to an end. It should have also happened with the Bush tax breaks. They did not and Trump just added to the pile of deficit

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The issue of the Tax Cuts expiring will be arriving at everyone’s doorstep come the end of 2025. They do not give an exact date so i will go with EOM December 2025. Does someone making close to or more than $400,000 annually deserve a continuation into 2026 and beyond? Not sure. I think the 1 percenter should be paying more tax.

My wife and I paid some high taxes (what we would call high) when we were under $200,000 annually after deductions. That was near the end of our careers so this was not lifestyle changing for us. Trump tossing a tax break to the one percenter through to the one-tenth of one percenter has to come to an end.

It should have also happened with the Bush tax breaks. They did not and Trump just added to the pile of deficit spending if that is your worry.

Best to read through . . .

Which are the most significant expiring provisions?

Which provisions of the TCJA were not enacted on a temporary basis?

How much additional revenue is raised by the expiration of the TCJA’s individual tax policies?

What are the distributional impacts of allowing the TCJA’s provisions to expire?

Distributional effects of expiration of TCJA tax provisions

Which provisions of the Tax Cuts and Jobs Act Should Expire in 2025?

1. For all the calculations in this explainer, we assume that the CPI-U rises at a 2.5% annual rate though August 2024, and at a 2% annual rate thereafter.

2. The TPC tables report the effects of extending the tax provisions; we recalculate the percent change in after-tax income so that it reflects the effects of allowing them to expire relative to extending them.

The sunsetting of the Tax Cuts & Jobs Act: What federal employees need to know, Government Executive

2017 Tax Breaks and Jobs Act Failed to Deliver, Angry Bear

Looking at the Trump 2017 Tax Breaks and Extension of them, Angry Bear

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