Money: Congress Is Gearing Up for a Fight Over Trump’s Tax Cuts
media mentionOnce the fanfare of Donald Trump’s inauguration fades, Congress has to get to work on taxes — and it won’t be pretty.
At issue is the Tax Cuts and Jobs Act of 2017, which was a hallmark of Trump’s first term. Abbreviated TCJA, the law made sweeping changes to the U.S. tax code that slashed the average person’s income taxes by about $1,600 in 2018 (but benefited wealthy households the most).