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BusinessEconomyEconomic PolicyPersonal FinanceWorkTechnologyBusiness of Climate
BusinessEconomyEconomic PolicyPersonal FinanceWorkTechnologyBusiness of Climate


THESE TAX CUTS WILL GO AWAY WITHOUT ACTION BY CONGRESS AND TRUMP


MANY OF THE TAX CUTS ENACTED DURING TRUMP’S FIRST TERM ARE SET TO EXPIRE AT THE
END OF 2025, BUT KEEPING THEM COULD ADD TRILLIONS TO THE FEDERAL DEBT.

5 min
46

President Donald Trump signs the Tax Cuts and Jobs Act into law on Dec. 22,
2017. (Jabin Botsford/The Washington Post)
Skip to main content
 1.  New tax brackets
 2.  A much larger standard deduction
 3.  The personal exemption
 4.  A larger child tax credit
 5.  Moving expenses and bike commuting
 6.  State and local tax deduction
 7.  Other itemized deductions
 8.  Estate tax
 9.  Alternative Minimum Tax
 10. Pass-through business income

By Julie Zauzmer Weil
November 12, 2024 at 11:30 a.m. EST

Many tax cuts enacted during President-elect Donald Trump’s first term are set
to expire at the end of 2025. That means taxes will rise for most Americans
unless Congress acts to renew them.

Some key features of the 2017 Tax Cut and Jobs Act — including cutting the
corporate tax rate to 21 percent — are already permanent. But most of the breaks
for individuals and households are temporary.


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