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Navigating Tax Reform Challenges
This chapter examines the consequences of the 2017 Tax Cut and Jobs Act, particularly the looming expiration of tax cuts by 2026 and the potential for tax increases. It highlights the intricate dynamics of U.S. tax policy, the necessity for comprehensive reform, and the complexities surrounding key issues like the SALT deduction. The discussion underscores the political hurdles in achieving bipartisan support for tax improvements while aiming to modernize the tax system to boost economic growth and competitiveness.