Changes in Taxes that Taxpayers Might Face Under Trump’s Administration
The Trump administration is planning to introduce some of the big changes in the tax process of the country to reduce expenditure and deal with the country’s debt problem. Learn how the government is planning to tackle that with the right form of economic and tax structure.

The return of Donald Trump to the White House is one of the powerful comebacks that has set new standards for the people of the US. The new president’s administration claims to offer some of the changes to deal with the most critical challenges of the country. Therefore the government is planning to make some changes in the format of their operation.
For example, to deal with the rising debt of the US the government started to create an operational unit where it will implement some of the steps to curb the extra cost and also to bring efficiency.
The creation of D.O.G.E (Department of Government Efficiency) has been created to guide the government on those matters and reduce the expenditure of the government.
In this blog, we will look into some of the promises and expected output related to taxes that can be experienced under the current regime.
The Extension of Tax Cuts and Jobs Act
The TCJA is the act that was issued under the Trump administration, and after his comeback in the Oval Office the extension of the TCJA has been introduced. A person who needs the tax benefits under TCJA extension can go for tax attorney services, and through that they can make a claim where it will lower the tax burden on the citizen.
However, as per the estimates of the analysts, the reported expenditure under this act can cost the government around $4.6 trillion covered over a decade, and that can put a further dent in the spiraling debt pile of the country.
Tax Changes to Reduce Government Spending
As we have discussed, the country is having a debt problem as a quarter of the US budget is now going towards the payment of interest to the bondholders, and that consumes a quarter of the federal budget that goes simply towards interest payment.
The government is looking for options that can reduce the spending of the government, and through that, the country can reduce the debt problem and bring a permanent solution to the crisis.
Tax Breaks that Can Change in the Future
There are tax breaks that were earlier there in the country, but under the Trump administration, there have been considerations about cuts in that segment.
· Removing Mortgage Interest Deduction
The mortgage interest deductions are a standard choice where one who is paying a mortgage can get the tax benefit through deductions. By removing this, the government can make the changes and save around $50 billion over the years.
· Revoking American Opportunity Credit
The American opportunity credit is the tax break that’s been given to the citizen for educational expenses for years. By revoking this, the country can save approx $59 billion over a decade.
Here, one can take the help of the Santa Monica tax attroneys who can help a person to assess their tax return files and can contest for removal of such tax credits that are still in action under the federal government. Hence, preventing the sudden rise in tax bills for the taxpayers.
These are some of the common formats through which one can make the changes, and based on that, the government is looking to work towards reducing unnecessary expenditure and providing the citizens the opportunity to get help from the TCJA.
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