The US tax code will change next year; the presidential election will determine how
Donald Trump promises cuts galore, while Kamala Harris would target the middle-class
NOT ONLY are taxes one of the only certainties in life, they are also one of the only certainties in this presidential election. That is because of the looming expiration of tax provisions passed in 2017, the main legislative accomplishment of Donald Trump’s term in the White House. This presents a fiscal cliff. By the end of 2025 whoever is president must sign new rules into law, or most Americans will see sharply higher income taxes.
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This article appeared in the United States section of the print edition under the headline “Battle of the slashers”
United States October 12th 2024
- What America’s presidential election means for world trade
- The US tax code will change next year; the presidential election will determine how
- Donald Trump is preparing an assault on America’s immigration system
- On energy and climate, Trump and Harris are different by degrees
- Both candidates pledge to fortify America. How big will they go?
- America’s presidential election marks a fork in the road for Ukraine
- Will the next president follow Israel into war with Iran?
- The next American president will be a China hawk
From the October 12th 2024 edition
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