If you have not heard about “it” yet, you will soon.  The “it” in this instance is the reprise of the President Trump Tax Cut and Jobs Act of 2017 (TCJA).  The reason that you will hear about it is that without something being done during the Congressional year of 2025 the laws, rules, and regulations of the TCJA will expire at the end of 2025. . . . . and, it is argued that the expiration of the TCJA will result in a large tax increase for individuals and businesses.

It is one of the realities of American politics — when you are campaiging for an office you tell everybody what you will do once you are elected.  Those promises get votes. . . . and help get you elected.  But the promises are not as easy to keep as they were on the campaign trail because our two-party systems creates a tide of opposition against those promises in the reality of passing the legislation.

And, it is not only the opposition a President fights against — sometimes it is members of the same political party who believe the bill presented is either “too much” or “too little” from the perspective of where they stand. . . . . That’s probably where we are now and will be until a vote is taken on a compromise bill around the 4th of July.

Tom Anderson
Funeral Director Daily

Not only as an individual taxpayer, but as a funeral home owner, there will be a lot at stake on how the new tax bill shakes out.  It may not only affect your take home income but may also affect how you spend money on your business  — in the case of accelerated depreciation, deductible expenses, and other items.

I happened to find a really good article from Yahoo Finance last week that gives a comprehensive, yet simple explanation on some of the personal income tax goals of the proposed bill.  As you can see in the article, all of the promises have costs. . . and the secret to getting the bill passed will, more than likely, be the ability to cut federal expenses enough to allow these costs to creep in without increasing the federal debt.

From my point of view, I see that as a difficult task.  More than likely for the next six weeks or so, you will hear each side claiming that the “Sky is falling” because of the choices made in this bill.

Related Article — This article from the Non-profit Tax Foundation that gives their insight and analysis of the current proposal, including sections on both individual and business ramifications.

Related Article —  Here’s another viewpoint about the current proposal from the writers of Axios

The manuevering has already started.  Here are two weekend articles that were published about the movement to pass the “Big, Beautiful Bill”:

• Weekend do-over planned for “big, beautiful” budget package.  Roll-Call
• The 3 Republican factions that have ground Trump’s “big, beautiful bill” to a halt — for now.  Yahoo Finance

More news from the world of Death Care:

• A day in the cemetery:  More than just a resting place.  Nebraska News Service (NE)
• Final touches:  She prepares the dead to heal the living.  New Strait Times (Malaysia)
• An appliance funeral?  The Vicksburg Post (MS)

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