Lawmakers are debating tax policy as key provisions of former President Donald Trump's tax cuts are set to expire after 2025. The 2017 Tax Cuts and Jobs Act introduced temporary tax cuts, including lower tax brackets, an increased child tax credit, and a 20% deduction for pass-through businesses. Without Congressional action, 60% of tax filers could see higher taxes. Small businesses and families advocate for the retention of specific provisions, such as the Qualified Business Income deduction and the expanded child tax credit.
