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The sweeping tax cut legislation delivers on several key pillars of President Trump’s agenda, most notably the permanent extension of the individual tax cuts he first enacted in 2017. It also eliminates most taxes on tips, overtime pay, and Social Security benefits for seniors.
In addition, the legislation allocates $46.5 billion to complete Trump’s long-standing 2016 campaign pledge to build a wall along the U.S.-Mexico border—a promise left unfinished during his first term.