Trump'S Tax Plan 2025 Explained. Commerce secretary howard lutnick discussed the details about the trump administration's alleged plans to get rid of the internal revenue service (irs) and utilize tariffs. The government has shut down or suffered funding gaps at least 20 times in its history, all in the past 50 years.

So, with trump in the white house. Several key provisions of the tax cuts and jobs act (tcja, also commonly referred to as the “ trump tax cuts”) are scheduled to expire at the end of 2025.