As the expiration date for over $3.4 trillion in individual income and estate tax cuts approaches at the end of 2025, the upcoming presidential election in November gains even more significance. The decisions made by the winning party will have a substantial impact on the nation's financial landscape.
The 2017 Tax Cuts and Jobs Act, a hallmark achievement of the Trump administration and the GOP-led Congress, is at the center of the debate. President Joe Biden and former President Donald Trump, the presumed 2024 presidential candidates, have outlined their stances on handling the expiring provisions of the tax cuts.
