CGSI takes a closer look at US presidential election and suggests potential implications

So far, former President Donald Trump has proposed a mix of tax cuts, import tax increases and tariffs on goods from other countries. These moves would result in a net increase in debt by US$7.75 trillion ($10.21 trillion) through 2035, according to the Committee for a Responsible Federal Budget (CRFB). Trump has suggested extending his tax cuts in 2017 under the Tax Cuts and Jobs Act (TCJA), which will mostly expire at the end of 2025 and exempt various types of income from the income tax.