2025-06-30 16:41:54

#Trump’s Tax Reform

Trump’s new tax reform plan, called the One Big Beautiful Bill (OBBBA), aims to:

* Make 2017 tax cuts permanent
* Raise standard deduction (e.g., $16K for singles)
* Boost child tax credit (up to $2,500)
* Exclude tips and overtime from income tax
* Raise SALT deduction cap to $40K
* Add new perks like auto loan interest deductions and savings for parents

💰 Estimated cost: Adds $3–4 trillion to the deficit
🏛️ Status: Passed in House, moving through Senate
⚖️ Debate: Backed by GOP for growth; criticized for favoring wealthy and cutting social programs

#BTC
#Gate Square Creator Spark Program
#Gate Alpha New Listings
#Kevin Lee Joins Gate Square

USDC0,01%

PENGU-2,88%

SOL-1,54%

H-7,06%

ETH-0,64%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

4 Likes