Originally Posted by
ClydeR
Congress and the President will have little choice but to work together as 2026 looms. Trump signed a law in 2017 that will increase taxes in 2026. The 2026 tax hike helped to offset the budgetary effects of the tax cuts that were part of the 2017 law. Nobody wants the 2026 tax increases to take effect. To avoid the draconian tax increases signed into law by Trump, whoever is President and whoever is in Congress in 2025 will, I hope, work together to reach a compromise that involves lower tax increases than would otherwise automatically take effect. Stopping the 2026 tax increases will, unfortunately, make the 2017 law a much larger deficit inducer than under the official projections that assumed the 2026 tax increases would fully take effect.