Most of the individual income tax provisions in the Tax Cuts and Jobs Act (TCJA) are slated to expire at the end of 2025. The estimated cost of extending expiring tax provisions, including those under the TCJA, for the next 10 years would add nearly $4.6 trillion to the federal budget deficit, according to the nonpartisan Congressional Budget Office (CBO). The estimate is part of a CBO report analyzing assumptions about spending and revenues. The report also projects that extending enhancements made to the Affordable Care Act’s premium tax credits through 2034 would cost $383 billion. Read the report: https://bit.ly/4dEc9Vs
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