flash on Nostr: ⚡️🇺🇸 NEWS - President Trump calls on Congress to restore his 2017 Tax Cuts ...
⚡️🇺🇸 NEWS - President Trump calls on Congress to restore his 2017 Tax Cuts and Jobs Act, specifically his bonus depreciation provision.
"As part of our tax cuts, we want to cut taxes on domestic production and all manufacturing. We will provide 100% expensing."
Trump's policy, which allowed businesses to immediately deduct expenses for investments in depreciating assets, was not renewed under Biden, meaning it will be phased out by 2027 if Congress fails to take action.
The Congressional Budget Office projects, if renewed, bonus depreciation will increase private investment by 1.5%.
"As part of our tax cuts, we want to cut taxes on domestic production and all manufacturing. We will provide 100% expensing."
Trump's policy, which allowed businesses to immediately deduct expenses for investments in depreciating assets, was not renewed under Biden, meaning it will be phased out by 2027 if Congress fails to take action.
The Congressional Budget Office projects, if renewed, bonus depreciation will increase private investment by 1.5%.