Trump's Push to Extend Tax Cuts Faces Fiscal and Political Challenges

Republicans aim to make 2017 tax cuts permanent, but concerns over the $4.6 trillion cost and rising national debt complicate efforts.

President-elect Trump and Congressional Republicans are prioritizing the extension of the 2017 Tax Cuts and Jobs Act, which is set to expire at the end of 2025.
Extending the tax cuts could cost $4.6 trillion over the next decade, raising concerns among Republicans and Democrats about the growing $36 trillion national debt.
Key provisions up for extension include lower individual tax rates, a doubled child tax credit, and a 20% deduction for pass-through businesses, which could significantly impact small business owners.
Democrats argue that the tax cuts disproportionately benefit wealthy individuals and corporations, while increasing fiscal strain on programs like Medicare and Social Security.
Republicans propose using budget reconciliation to bypass Senate filibusters, but internal disagreements on spending cuts and deficit impact remain obstacles.