President-elect Donald Trump is poised to push swiftly for new tax cuts if Republicans win full control of Congress, further slashing corporate rates and extending trillions of dollars of other cuts even as the national debt soars.
Major portions of Trump’s 2017 tax law are set to expire next year, and Republicans are aiming to give Trump a major legislative accomplishment within his first 100 days in office.
The GOP won control of the Senate in Tuesday’s elections. While control of the House is still uncertain, Republicans are optimistic that results are trending toward maintaining their narrow majority.
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