WASHINGTON (AP) — Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how ...
would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy.
The split goes beyond an ideological difference to a very real challenge for whoever triumphs in the November election. At the end of 2025,that Trump signed into law in 2017 will expire — setting up an avalanche of choices about how much people across the income spectrum should pay as the national debt is expected to climb to unprecedented levels.Including interest costs, extending all the tax breaks could add another $3.
"When President Trump is back in the White House, he will advocate for more tax cuts for all Americans and reinvigorate America’s energy industry to bring down inflation, lower the cost of living, and pay down our debt,” Leavitt said. Trump has maintained that his tax records are complicated because of his use of various tax credits and past business losses, which in some cases have allowed him to avoid taxes. He also previously declined to release his tax returns under the claim that the IRS was auditing him for pre-presidential filings.
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