Trump Unveils New Tax Proposal
White House Press Secretary Karoline Leavitt announced President Donald Trump’s latest tax plan,
which aims to give “significant relief to middle-class Americans” by eliminating federal taxes on tips,
Social Security benefits, and overtime pay.
The proposal also seeks to close the carried interest loophole
, extend the 2017 Tax Cuts and Jobs Act, and lower the corporate tax rate to 15%.
Supporters vs. Critics
Republicans argue the plan will boost workers and businesses.
Senator Josh Hawley said, “This is about making sure the American worker gets a fair deal.”
But Democrats sharply oppose it. House Minority Leader Hakeem Jeffries warned,
“This is just another attempt to funnel money into the pockets of billionaires while leaving working families behind.”
Economic Concerns
Critics caution that steep tax cuts could balloon the deficit.
Senator Rand Paul noted, “We can’t just keep cutting taxes without reducing spending.”
What’s Next
The proposal now heads to Congress, where a fierce partisan battle is expected ahead of the 2026 midterms.
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