TRUMP’S TAX CUTS MAY DECIDE 2024 ELECTION: Remember President Donald Trump’s Tax Cuts and Jobs Act (TCJA), the massive reduction in federal levies negotiated between him and the then-Republican Congress? The across-the-board tax cuts included in that law expire next year, but the political reverberations could be a major factor in the outcome of this November’s election.

Check out the Tax Foundation’s analysis of the state-by-state amount that individual levies will increase for all taxpayers if the TCJA is not renewed. When everybody in, for example, Texas realizes their federal taxes are going up by on average $2,919 if something isn’t done, they aren’t going to be happy. Same for a key swing state like Michigan where the hike will be more than $2,000 per taxpayer on average.

Expect Trump and his allies to be talking about this a lot in the days ahead.