President Trump’s new tax blueprint could deliver $3.7 trillion in tax relief over the next decade—fueling growth, protecting retirees, and strengthening America’s working class. That’s according to the nonpartisan Joint Committee on Taxation (JCT), which scored the bill ahead of a pivotal House hearing this week.
A Budget That Puts Americans First
The tax reforms fit within the $4.5 trillion window approved by Congress, giving House Republicans room to pursue bold changes without breaking the bank. The package is packed with Trump-era tax policies, a rollback of Biden’s wasteful spending, and pro-growth incentives for families, seniors, and small businesses.
Extending the Trump Tax Cuts
At the heart of the bill is the extension of Trump’s historic 2017 tax cuts, which lowered individual income tax rates across the board. Those extensions alone would deliver $2.2 trillion in savings, putting more money back in the pockets of hardworking Americans.
Other key provisions include:
- Bigger standard deductions: $29,200 for married couples in 2024—adding $1.3 trillion in relief
- Elimination of personal exemptions: Adding back $1.8 trillion in federal revenue, balancing the cost
- Alternative Minimum Tax relief: $1.4 trillion in savings for middle-income earners
Working Families and Seniors Win Big
The bill also extends and expands targeted tax benefits:
- Enhanced Child Tax Credit: Nearly $800 billion to help families
- Tax relief for small businesses: $700 billion for pass-through entities
- No tax on tips: A $40 billion break for service workers
- No tax on overtime: $124 billion to reward hard work
- Senior tax deduction boost: $71 billion in added relief
- No tax on car loan interest: $57 billion back to drivers
These measures are part of President Trump’s campaign promise to put American families and retirees first—and roll back the crushing burden of federal overreach.
Reining in Biden’s Green Spending
While Democrats handed out billions in green energy tax credits, Trump’s GOP allies are fighting back.
Key rollbacks include:
- Termination of EV credits: $78 billion saved
- Elimination of commercial clean vehicle credits: $104 billion returned to taxpayers
- Ending clean electricity investment credits: $154 billion in savings
These cuts will slash Biden’s bloated climate subsidies and refocus tax policy on real economic growth—not government-picked winners.
Closing Loopholes and Cracking Down on Fraud
To help pay for the tax relief, the bill increases federal revenue through:
- IRS enforcement on international tax evasion: $116 billion expected
- Revisions to the Earned Income Tax Credit: $15 billion in savings
More enforcement on multinational corporations and overseas tax shelters means fewer loopholes for billionaires—and more fairness for everyday Americans.
Final Thoughts
While some fiscal hawks in the GOP are still reviewing the numbers, many see this as a major step toward restoring American prosperity. As Rep. Chip Roy (R-TX) put it:
“We’ve made serious progress thanks to conservative pressure. But more work is needed to stop runaway spending once and for all.”
President Trump’s plan proves once again: When you put America First, everyone wins.