Trump promised a variety of tax breaks, including removing the TCJA’s $10,000 cap on the deduction for state and local taxes, and eliminating taxes on tip income, overtime pay and retirees’ Social Security benefits.


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Originally Published: <time datetime="2025-01-23 09:54:00">January 23, 2025 at 9:54 AM EST</time>

Trump promised a variety of tax breaks, including removing the TCJA’s $10,000 cap on the deduction for state and local taxes, and eliminating taxes on tip income, overtime pay and retirees’ Social …{ai:summary}<p>Trump has proposed multiple tax breaks, which include lifting the $10,000 cap on state and local tax deductions, as well as eliminating taxes on tip income, overtime pay, and Social Security benefits for retirees. </p><p>These changes aim to provide financial relief to various groups. #economy</p>

Trump’s back in office — here’s what to expect for your taxes in 2025 and beyond

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