Many Americans face tax increases in 2026 if tax cuts are not passed

Many Americans will face a tax increase in 2026 if the 2017 tax cuts are not extended, according to a new analysis by the Tax Foundation. Richard Rubin, a U.S. tax policy reporter for the Wall Street Journal, joins CBS News with more.

Topics

Middle and higher earners face increasing tax burden

Budget measures combine with legacy ones to raise tax bills
Financial Times - 10h
Biden Says Trump’s Tax Cuts and Tariffs Would Be ‘a Major Mistake’

The president also said his successor would face blowback from the Republican Party if he tried to unwind the Biden agenda.
The New York Times - 3d
Tax Cuts Were Top of Mind at the Tax Foundation’s Annual ‘Prom’

Republican control of Washington and a tax bill next year have corporate America excited — and on edge.
The New York Times - 3d
Trump's tariffs: A tax on American consumers

President-elect Donald Trump has promised to impose across-the-board tariffs on imported goods from some allies and adversaries, claiming that foreign nations will pay such taxes to the U.S. ...
CBS News - 5d
Death and Taxes

We explain why the estate tax isn’t working.
The New York Times - Dec. 5
On Trump tax cuts, energy and immigration plans, clash emerges between House, Senate GOP leaders

Jason Smith, Chair of House Ways and Means, tells CNBC that his voting majority will be extremely slim for passing President-elect Trump's tax cut promises.
CNBC - Dec. 5
Trump Tax Cuts Won’t Help the Economy Grow, Budget Office Finds

A larger debt and higher interest rates would cancel out the boost from keeping individual taxes lower, the nonpartisan Congressional Budget Office found.
The New York Times - Dec. 4
These parts of Trump's tax cut law expire in 2026

The 2017 Tax Cuts and Jobs Act (TCJA) made huge permanent cuts to corporate and business taxes while making temporary cuts to individual taxes to limit the bill’s expansionary effects on the ...
The Hill - Dec. 4
Trump’s tax plans: Housing credits ‘in play,’ and there’s buzz over a short extension for expiring cuts

One veteran analyst is predicting that housing tax credits will get included in the GOP’s big tax package next year. Separately, some GOP lawmakers reportedly have talked about using the package to ...
MarketWatch - Dec. 3

Many Americans face tax increases in 2026 if tax cuts are not passed

Topics

Related

Middle and higher earners face increasing tax burden

Biden Says Trump’s Tax Cuts and Tariffs Would Be ‘a Major Mistake’

Tax Cuts Were Top of Mind at the Tax Foundation’s Annual ‘Prom’

Trump's tariffs: A tax on American consumers

Death and Taxes

On Trump tax cuts, energy and immigration plans, clash emerges between House, Senate GOP leaders

Trump Tax Cuts Won’t Help the Economy Grow, Budget Office Finds

These parts of Trump's tax cut law expire in 2026

Trump’s tax plans: Housing credits ‘in play,’ and there’s buzz over a short extension for expiring cuts

More from CBS News

12/13: CBS News Weekender

American Airlines flight forced to make emergency landing after likely bird strike

Tech CEOs donate millions to Trump's inaugural fund

U.N. working to get humanitarian aid into Syria

Nancy Pelosi hospitalized in Luxembourg after fall