
WASHINGTON – The Trump administration is expected to release a budget for the next fiscal year that will delay Republican-led tax cuts approved in late 2017, US media reported Sunday.
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The White House is quoting a senior administration official saying that the White House is proposing to extend individual tax cuts to 2035 at a cost of $ 1.4 billion, and a budget plan will be presented Monday.
The fiscal 2021 budget, which runs from October this year to September next year, shows the deficit will reach $ 1 trillion this fiscal year and remain at $ 200 billion after a decade.
The tax changes introduced at the end of 2017 include permanent corporate tax cuts and individual tax cuts, which are set to expire by 2025.
By Chhouk Bora

