Modifications to Standard Deduction and Personal Exemptions The Trump 2025 tax plan may propose increasing the standard deduction, which was doubled in 2017 but could be adjusted again to reflect inflation and cost-of-living increases. Raising the standard deduction would reduce taxable income for many Americans, simplifying tax filing and lowering overall tax liability. Additionally... https://www.federalpensionadvisors.com/post/trump-child-tax-credit-2025