The Tax Cuts and Jobs Act (TCJA), enacted under the Trump administration in 2017, significantly reshaped the United States tax landscape. However, as President Joe Biden seeks reelection, he has vowed to let these tax cuts expire, setting the stage for a potential showdown over the future of the nation’s fiscal policy. “If Biden is re-elected and the Trump tax cuts go away, that’s a 20 percent increase in taxes,” said Steube on Fox Businesses The Evening Edit. “Right now, small businesses pay about 21 percent in taxes to the federal government. If the Trump tax cuts go away, you’re talking abo…
