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Tag: Trump tax blueprint
Taxing Divides: How Trump’s 2025 Tax Blueprint Challenges Republican Unity and Economic Norms
By early 2025, former President Donald Trump’s proposed Tax Blueprint legislation had crystallized into the centerpiece of his economic agenda—and the linchpin of intra-party contention. The Wall Street Journal aptly described the unfolding drama: “Trump’s Economic Agenda Hinges on Tax Bill That Divides His Party.” At its core, the proposal would cut the top marginal individual rate from 37 percent to 28 percent and reinstate full expensing for capital investment, offset by scaling back popular deductions for state and local taxes and eliminating the alternative minimum tax (AMT) (Wall Street Journal, 2025). Yet while ardent conservatives cheered reductions that they believe would spur growth, other Republican fiscal hawks and moderates balked at the package’s projected $2 trillion deficit impact over ten years.