President Trump has made numerous promises on individual tax cuts in addition to the extension of his sweeping 2017 tax cuts — the last major reform to the U.S. revenue system that Senate Republicans are now working to make permanent.
Three of those promises — canceling taxes on tip compensation, overtime pay, and Social Security — look to be at the top of his tax agenda, which he met with Republicans on the Senate Finance Committee about this week.
“The President very much wants to make sure we see no tax on tips, Social Security … and overtime. Those are all important priorities to the President,” committee member Steve Daines (R-Mont.) said after the meeting with Trump.
Trump also mentioned his auto loan interest deduction proposal while addressing Congress earlier this month.
What he hasn’t mentioned in a while are the child tax credit, his proposal for a family caregiver tax credit, and the reinstating of unlimited state and local tax (SALT) deduction itemization — all key issues in the tax fight.
— Tobias Burns
