Details of President Trump’s Tax Plan Released: “Largest In History For Middle-Class Working Americans”

The details of President Trump’s sweeping new tax plan have just dropped, and it’s really good news for middle class Americans.

President Trump laid out the details of his plan in a meeting with House Republicans today, and White House Press Secretary Karoline Leavitt relayed the info to the public during a press conference.

Trump’s tax plan is being called the “largest tax cut in history for middle-class working Americans.”

It includes delivering on President Trump’s campaign promises to eliminate taxes on tips, overtime pay, and Social Security benefits for seniors.

Among other things, President Trump will also renew his 2017 middle-class tax cuts and provide a tax cut for products Made in America.

Here are all the details:

President Trump's plan for the "largest tax cut in history for middle-class working Americans":

-No tax on tips
-No tax on seniors' social security
-No tax on overtime pay
-Renew Trump's middle-class tax cuts
-Adjusting the salt cap
-Eliminate all special tax breaks for… pic.twitter.com/p9wSBwQ0Dt

— Libs of TikTok (@libsoftiktok) February 6, 2025

🚨BREAKING: Press Secretary Karoline Leavitt lays out ALL of the tax priorities of the Trump Administration:

– No tax on tips
– No tax on senior social security
– No tax on overtime pay
– Renew Trump’s 2017 Middle Class tax cuts
– Adjust SALT cap
– Eliminate all special tax… pic.twitter.com/H3d5MGt7X9

— Benny Johnson (@bennyjohnson) February 6, 2025

JUST IN: White House Press Secretary Karoline Leavitt lays out President Trump's tax plan that he is presenting to Congress.

It includes:

1. No tax on tips.
2. No tax on senior's Social Security.
3. No tax on overtime pay.
4. Renewing Trump's 2017 tax cuts.
5. Adjusting state… pic.twitter.com/NWDyesNTZI

— Collin Rugg (@CollinRugg) February 6, 2025

Fox News reported:

President Donald Trump gathered with House Republican leaders at the White House on Thursday to relay his tax priorities.

In the meeting, he told House Speaker Mike Johnson, R-La., Majority Leader Steve Scalise, R-La., Majority Whip Tom Emmer, R-Minn., and others that he wants to fulfill his campaign promise to stop taxing tips.

White House Press Secretary Karoline Leavitt updated reporters as the lengthy meeting was still ongoing, detailing that Trump wants “no tax on seniors, Social Security, no tax on overtime pay.”

dditionally, she said, he wants to renew his tax cuts from 2017 in the Tax Cuts and Jobs Act (TCJA). The legislation’s provisions begin to expire later this year.

Leavitt added that Trump is focused on also adjusting the cap on State and Local Tax (SALT) deductions, which has been a sticking point for Republicans in states with high costs of living.

Further, Trump laid out to House Republicans that he is looking to “eliminate all the special tax breaks for billionaire sports team owners; close the carried interest tax deduction loophole,” and institute “tax cuts for Made in America products.”

President Trump’s meeting with House Republicans comes amid a struggle between the House and Senate over how to pass President Trump’s tax agenda.

Most House Republicans, including Speaker Johnson, want to bundle tax policy into a single bill, packaged together with other initiatives.

But, the Senate GOP says they want to separate out tax policy from other agendas having to do with the border, defense, and energy.

From Politico:

Trump made his preferences known as House Republicans are struggling to present a united front on taxes and trying to fend off Senate GOP plans to go around them.

The meeting included House Speaker Mike Johnson, Ways and Means Chair Jason Smith (R-Mo.) and other House Republicans, who came to lobby the president to support their plan to package his tax agenda with other priorities in a single, all-encompassing bill.

Senate Republicans announced Wednesday that they would proceed to a Budget Committee mark-up of their own plan next week, which would put Trump’s energy, border and defense policies in one bill and leave tax policy until later.

Some House Republicans who want to minimize the tax plan’s impact on the deficit and prefer the two-bill plan also attended the White House meeting.

Whether it’s done in one bill or two, I think President Trump made it very clear today that he wants his tax plan passed — stat!

What are your thoughts?

Are you happy with the proposed tax plan?