Trump's Aggressive Agenda: Tax Cuts vs. Debt Control

With Republicans poised to take control in Washington, President-elect Donald Trump is set to implement bold tax cuts and other fiscal policies, posing a challenge in managing the country’s burgeoning debt. Amidst intra-party strife, Republicans plan to leverage budget reconciliation to circumvent Senate filibusters.

Republicans are gearing up for a potent control in Washington next year, giving President-elect Donald Trump the opportunity to initiate an ambitious plan of tax reductions for businesses and individuals. These measures put the GOP's call for fiscal restraint to the test, considering the federal debt stands at a staggering $35 trillion.

Initial priorities include renewing Trump's 2017 tax reductions, funding the U.S.-Mexico border wall, slashing unspent Democrat-allocated funds, and potentially scrapping the Department of Education. This aligns with their agenda to boost economic growth while exerting stricter immigration controls, according to GOP insiders.

However, Trump's expansive policies might push U.S. borrowing deeper into the red, complicating Republican efforts to shrink a deficit that hit $1.83 trillion in fiscal 2024. Lawmakers plan to use budget reconciliation to sidestep Senate filibusters, yet internal discord persists over demands for corresponding spending cuts.

(With inputs from agencies.)