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Trump Tax Resource Center

Trump Tax Proposals: Details & Analysis

President Trump has proposed a number of tax proposals, including imposing a universal baseline tariff on all US imports, imposing a 60 percent tariff on all US imports from China, making the individual and estate tax cuts of the 2017 Tax Cuts and Jobs Act (TCJA) permanent, maintaining the 21 percent corporate income tax rate, and making all tip income tax-exempt. From analyzing the economic impact of US tariffs and retaliatory actions to the upcoming TCJA expirations, Tax Foundation experts continue to serve as trusted thought leaders, providing research, modeling, analysis, and commentary on how the Trump tax proposals would impact U.S. competitiveness, economic growth, government revenue, and everyday taxpayers. The posts below include our research and analysis on a variety of Trump tax proposals. You can also explore our economic modeling via Options for Reforming America’s Tax Code and our 10 Tax Reforms for Growth and Opportunity. See Trump’s latest trade actions with our Tariff Tracker and explore the latest tax developments and analysis our Budget Reconciliation Tracker.

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No Tax on Social Security vs. Proposed $4,000 Senior Bonus Senior Tax Deduction One Big Beautiful Bill Act OBBB

How Would the Proposed Additional Senior Deduction Compare to No Tax on Social Security?

The increased senior deduction with the phaseout would deliver a larger tax cut to lower-middle- and middle-income taxpayers compared to exempting all Social Security benefits from income taxation and would not weaken the trust funds as much. But given the temporary nature of the policy, it would increase the deficit-impact of the reconciliation bills without boosting long-run economic growth.

3 min read
Big Beautiful Bill Impact on Economy and Economic Growth

Will the Big Beautiful Bill Lead to an Economic Boom or Just Modestly Higher Growth?

Lawmakers are right to be concerned about deficits and economic growth. The best path to address those concerns is to ensure OBBB provides permanent full expensing of capital investment, avoids inefficient tax cuts, and offsets remaining revenue losses by closing tax loopholes and reducing spending.

8 min read

‘Trump Accounts’ Could Be Better. Here’s How.

If the federal government really wanted to make saving more accessible for taxpayers, it would swap the proposal for Trump Accounts to replace the complicated mess of savings accounts currently available with universal savings accounts.

4 min read
State Implications of the One Big Beautiful Bill No Tax on Car Loan Interest SNAP Cost Sharing No Tax on Tips and Overtime Medicaid Reductions for States Covering Undocumented Immigrants

State Implications of the One, Big, Beautiful Bill

As the US House hashes out its “One, Big, Beautiful Bill,” statehouse lawmakers are watching closely, given the impact of both its tax and spending provisions on state budgets.

12 min read