The president shared a variety of bizarre economic views and admitted he makes financial markets nervous during an event in Las Vegas to promote his tax agenda
Trump’s own tax policies both increased the standard deduction and restricted itemized deductions. Not only that, but most average to low income Americans don’t have enough of the kind of deductible expenses that would make itemized deductions the better choice over standard.
The One Big Beautiful Bill Act (OBBBA)slightly increased the standard deduction…
The The Tax Cuts and Jobs Act (TCJA) eliminated or restricted many itemized deductions for 2018 through 2025. This, together with a higher standard deduction, reduced the number of taxpayers who itemize deductions…
Trump’s own tax policies both increased the standard deduction and restricted itemized deductions. Not only that, but most average to low income Americans don’t have enough of the kind of deductible expenses that would make itemized deductions the better choice over standard.