Institute on Taxation and Economic Policy (ITEP)

Trump-GOP Tax Law

report  

Year One of Trump-Republican Tax Policy: The Consequences

April 6, 2026 • By Michael Ettlinger

Year One of Trump-Republican Tax Policy: The Consequences

President Trump has dramatically increased tariff taxes, enacted large tax cuts that primarily benefit the wealthy and corporations, dramatically curtailed IRS enforcement, and issued legally problematic regulations.