Trump Tax Cuts Expire 2025 Reddit. The standard deduction, which reduces a person’s taxable income, basically doubled under trump’s tax cuts, allowing many more to use it rather than itemize. The irs said 92% of people will pay the same or more if biden gets his tax increase he is demanding by letting the trump cuts expire.

This gives incoming lawmakers a window of opportunity to reconsider how to. Key provisions from the tax cuts and jobs act (tcja) of 2017 are set to expire dec.