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The 2025 tax policy landscape is poised for significant changes driven by the Republican victories in the 2024 elections. With President-elect Trump securing a second term and the likelihood the GOP holding majorities in both the Senate and the House, the extension of key provisions of the TCJA will be a primary focus. Additionally, President-elect Trump’s proposed tax reforms and tariffs could further reshape the economic landscape, sparking debates on their long-term impacts on businesses and consumers. As these discussions unfold, the direction of U.S. tax policy will be closely watched, with significant implications for the economy and taxpayers alike.