Preparing for the 2025 Tax Cliff: Key Proposals and Critical Timelines
April 14, 2025 | The 2025 Tax Cliff, due to the expiration of 2017 TCJA provisions, could lead to significant tax increases. Congress is using reconciliation to pass budgetary changes with a simple Senate majority, but strict rules apply. Key proposals include extending TCJA provisions, adjusting the $10,000 SALT deduction cap, and introducing manufacturing incentives. Other proposals involve limiting corporate SALT deductions, modifying energy credits, and imposing additional withholding taxes.
Watch this special video episode as John Gimigliano, Jennifer Acuña, and Dan Winnick dive into the legislative and regulatory environment, the details of the potential tax proposals, and the timeline for action.
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