Election 2024: Tax cut extensions likely; fiscal future shaky
“Blessed are the young for they shall inherit the national debt” Herbert Hoover The defining fiscal policy agenda item up for debate in the 2024 election i s the looming expiration of the Tax Cuts and Jobs Act (TCJA). While most of the TCJA will likely be extended, the specifics will depend not only on who wins the presidency, but also the make-up of Congress. In any scenario, budget deficits will remain large, as elected officials refuse to acknowledge the weakening fiscal outlook.