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Budget And Taxes

All articles tagged with #budget and taxes

budget-and-taxes12 days ago

Trump-Era Tax Breaks Spark a Wave of Targeted Deductions in Congress

Trump’s targeted tax breaks have sparked a bipartisan rush to copycat deductions—from overtime and tipped-income relief to boat-loan interest and border-patrol exemptions—raising questions about permanence and cost as 2028 expirations loom. Proposals seek to extend or broaden who qualifies, including expanded medical/home‑buying deductions and new credits, with millions already benefiting (more than 35 million seniors, 29 million overtime, 7 million tipped-income) and roughly $600 billion needed to keep all four provisions. Conservatives warn they are earmarks; progressives worry about revenue and priorities; the political fight is likely to continue into the midterms and beyond.