Trump Era Tax Cuts Are Expiring: 4 Ways Your Household Budget Will Take a Hit

Inflation’s financial strain is compounded by recent tax law changes, with both enacted and expired laws expected to raise taxes. The June 2023 Fiscal Responsibility Act establishes new spending limits, rescinds funds, increases the federal debt limit, and modifies federal program requirements. While seen as a temporary solution to the debt limit crisis, doubts linger about its effectiveness, raising concerns about possible tax increases.

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Source Article: https://finance.yahoo.com/news/trump-era-tax-cuts-expiring-120049456.html

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