A Tax Facts Debate: Pros and Cons of Trump’s 2025 Tax Plans

Among the policies up for debate are:

• Restoring the unlimited deduction for state and local taxes, reversing a controversial TCJA provision.
• Making the 20% deduction for qualified business income permanent, while reducing corporate tax rates further.
• Restoring 100% bonus depreciation to boost capital investments.
• Ensuring the higher estate tax exemption remains permanent beyond its 2026 expiration.
• Locking in current tax rates, brackets and the expanded standard deduction while maintaining the personal exemption suspension.
• Introducing an itemized deduction for auto loan interest.
• Assessing the unchanged trajectory of the required minimum distribution age increases under SECURE 2.0 Act.

This engaging debate will offer insights into how these changes could affect individuals, businesses and estate planning strategies.