How Your Taxes May Change After 2025

The majority of Americans, 56%, say they pay too much in federal income tax, according to an April 2024 Gallup poll. Only 22% believe they receive valuable services from those taxes, according to an AP-NORC January 2024 survey. If the 2017 tax cuts are allowed to expire in 2025, about 62% of taxpayers would see their bills go up, according to the Tax Foundation. This means the 2024 election will determine which political party will get to shape Americans' taxes for years to come. Chapters: 0:00 Introduction 1:38 Trump's plan 5:15 Harris' plan 10:21 Taxes on corporations Produced by: Charlotte Morabito Additional Reporting by: Kate Dore Edited by: Nora Rapapport Additional Editing by: Andrea Miller Animation: Jason Reginato Supervising Producer: Lindsey Jacobson Additional Footage: Getty Images