Trump Promises to Replace Federal Income Taxes With Consumption Taxes. Here’s the Rate Needed
To replace the federal income tax system with a consumption tax, the United States would need a national sales tax of approximately 23-30% on all goods...
Category Federal Reserve
Trump Says He’ll Cut Federal Foreign Aid by Half. Here’s the Annual Budget
President Trump said he would cut federal foreign aid by half, and his FY2026 budget proposal initially backed up that claim with dramatic numbers:...
Trump Promises to Ban Federal EV Mandates for Government Agencies. Here’s the Current Rule
In January 2025, President Trump issued an executive order titled "Unleashing American Energy" that rescinded federal policies requiring government...
Trump Promises to Eliminate Federal Payroll Taxes for Employers. Here’s the Funding Gap
President Trump's proposal to eliminate federal payroll taxes for employers would create a staggering $843 billion annual funding gap that the federal...
Trump Says He’ll Reduce Federal Taxes for Small Businesses. Here’s the Proposed Rate
Trump proposed reducing the federal corporate tax rate from 21% to 15% for small businesses, but this key rate reduction was not enacted into law.
Trump Promises to End Federal Climate Incentives for Utilities. Here’s the Program List
The Trump administration has moved aggressively to dismantle federal climate incentive programs, eliminating tax credits and federal funding that...
Trump Says He’ll Repeal Federal Student Loan Income Based Repayment. Here’s What Borrowers Face
President Trump's administration is dismantling the federal student loan income-based repayment system that helped millions of borrowers manage their debt...
Trump Promises to Cut Federal Infrastructure Spending. Here’s the Largest Projects
President Trump's April 2026 budget proposal includes sweeping cuts to federal infrastructure spending, eliminating or dramatically reducing funding for...
Trump Says He’ll Eliminate Federal Capital Gains Taxes on Home Sales. Here’s the Impact
Trump has proposed eliminating federal capital gains taxes on home sales, a policy idea he's championed following Rep.
Trump Promises to Slash Federal Research Funding. Here’s the Annual Spending
President Trump's 2027 budget proposal includes dramatic cuts to federal research funding across major science agencies, with the National Science...