To Win Votes, Trump Floats an Array of Expensive Tax Cuts

Published On Sep 18, 2024, 4:40 PM

Former President Donald Trump is proposing a series of tax cuts aimed at different voter demographics as he campaigns for the presidency. His proposals include no taxes on tips for restaurant and hotel workers, ending taxes on Social Security benefits for retirees, and reducing the corporate tax rate for domestic manufacturers from 21% to 15%. While these promises have resonated well with his audiences and even influenced some rival candidates, budget experts warn that such tax cuts could cost trillions and increase the federal deficit significantly.