Post-Election Tax Policy Update: Trump’s Win Expected to Bring Tax Law Changes
Overview
Donald Trump’s election as the 45th President of the United States on November 8 is expected to bring changes to the tax laws for individuals and businesses. President-elect Trump had made tax reduction a centerpiece of his economic plans during his campaign, saying he would, among other things, propose lower and consolidated individual income tax rates, expand tax breaks for families, and repeal the Affordable Care Act. As the next few weeks and months unfold, taxpayers will learn more about Trump’s tax plans. This tax alert covers the projected impact based on President-elect Trump's statements and proposals on taxes and tax policy during the campaign, including:
- First 100 days
- Individual taxation
- Business taxation
- Healthcare-related taxes
- International
- Lame-duck tax legislation