What part of TCJA expires in 2025?

Hot Discussion
21

@Whit
The monthly child tax credit was only around for one year and it was a mess to implement. I doubt it’ll come back anytime soon.

22

Jo said:
Anything that wasn’t a giveaway to Trump’s rich friends will expire.

Actually, the only permanent cut is the corporate tax rate. Everything else—like lower marginal rates, estate tax changes, and 199A—expires in 2025.

23

@Del
We’ll see. Politicians are going to have a lot to say about it in 2025.

24

Jin said:
@Del
We’ll see. Politicians are going to have a lot to say about it in 2025.

It’s not a guessing game. We know exactly what expires and what doesn’t unless new laws get passed.

25

SALT is just a tax break for the rich. I don’t get why Democrats, who talk about making the rich pay their fair share, want to lift the $10k cap.

26

Zed said:
SALT is just a tax break for the rich. I don’t get why Democrats, who talk about making the rich pay their fair share, want to lift the $10k cap.

A lot of middle-class families in high-tax states can’t itemize because of the SALT cap. It’d be more fair to raise the limit to $20k for married couples, but leaving it at $10k means couples can pay more in taxes just because they’re married. That doesn’t make sense.

27

Zed said:
SALT is just a tax break for the rich. I don’t get why Democrats, who talk about making the rich pay their fair share, want to lift the $10k cap.

It’s killing the middle class in blue states. I live in Connecticut, not near NYC or anything fancy, and I bought a median-priced house for $420k. My property taxes were $14k a year, now they’re $17k. We also pay taxes on cars, which adds another $1.5k a year. The SALT cap was a hit on the middle class in places like this.

28

@Blake
I’m in Massachusetts, north of Boston, and my taxes are $6,500 a year on a house appraised at $350k. Can’t imagine paying $14k–$17k annually!

29

Emlyn said:
@Blake
I’m in Massachusetts, north of Boston, and my taxes are $6,500 a year on a house appraised at $350k. Can’t imagine paying $14k–$17k annually!

Yeah, my brother used to complain about taxes in Massachusetts too until he moved back to Connecticut. Now he doesn’t complain anymore.

30

@Blake
Same here in Illinois. I live in the southern suburbs, and my house taxes were over $14k this year.

31

Zed said:
SALT is just a tax break for the rich. I don’t get why Democrats, who talk about making the rich pay their fair share, want to lift the $10k cap.

Democrats have rich donors too.