Trump Individual, Estate Tax Cut Renewal to Cost $4.6 Trillion

The cost of extending the 2017 tax cuts for households, small businesses and the estates of wealthy individuals enacted under President Donald Trump has expanded to $4.6 trillion, according to new estimates from Congress’s fiscal scorekeeper.

That puts a massive price tag on what is likely to be a top issue in Washington next year as lawmakers grapple with the future of Trump’s tax cuts, which are slated to expire at the end of 2025.

Congress will also confront the deficit impact of renewing the cuts, as the US faces as “daunting” fiscal outlook, Congressional Budget Office Director Phillip Swagel ...