Since being nominated as the 47th US President, Donald Trump has made several promises to cut US citizens, particularly taxes. At these tax meetings, Trump’s biggest resource for making that dream a reality was through tariffs. The US President investigated tariffs on most of the major US exporters, including Mexico and China. At Homefront, Trump’s new government efficiency agency is working to cut US spending, including thousands of jobs, to cut taxes.
On average, taxpayers in all income groups receive tax relief, but not everyone, according to a report on FactCheck.org. Overall, about two-thirds to three-quarters of taxpayers will receive tax cuts, according to an independent analysis. Also, reductions are biased towards wealthy Americans who, on average, see more tax cuts on average, as a percentage of income as well as amounts. But again, not only the wealthy ones will benefit.
Trump meets with senators to discuss tax cut plans
Republicans on the Senate Finance Committee will meet with President Donald Trump at the White House this Thursday to discuss his tax cut agenda. “The president invited us to join him tomorrow at the White House,” Senate majority Whip John Baraso (R-Wyoming) told reporters Wednesday. Barasso added that he will discuss ways to avoid further tax increases on the flip side.
Senate Republicans believe the current policy baseline will make it much easier to ensure Trump’s expired tax cuts will be permanent. But it will require more sharp cuts than Doge has so far implemented to pass such a tax bill.
Furthermore, tax cuts are often questioned in terms of who will benefit most. One side feels that it only helps the upper class, but Trump claims it benefits all Americans. Trump framed the tax cuts very differently in his speech to Congress on March 4th. “The next step in our plan to lead the biggest economy in history is for this Congress to hand over tax cuts to everyone,” Trump said. “They’re there, they’re waiting for you to vote.”
In January 2025, Trump took the vow to do more than simply cut taxes. Trump said his administration would “cut taxes, cut regulations, raise wages and boost revenue at a pace the world has never seen before.” However, work is urgent for a number of reasons. The prolonged battle that must be won before tax cuts is the war against inflation. Inflation has been rising since the pandemic, and the United States has only just begun to make progress in the fight. So that battle must be won first, and by the end of 2025 it will not be.
