Trump wants to extend his 2017 tax cuts — and more. Here's what that could mean for you.

During his electoral campaign, President-elect Donald Trump pledged to extend many provisions in his signature Tax Cuts & Jobs Act, a 2017 law that overhauled the tax code and handed a financial break to almost every taxpayer. 

Many of those provisions are set to expire at the end of 2025, such as the current individual tax brackets and standard deduction. If Republican lawmakers are unable to pass legislation to extend the TCJA reforms next year, more than 6 in 10 filers would face a tax increase in 2026, according to an analysis from the Tax Foundation.

While those dates may seem distant, passing a major tax bill before the TCJA provisions expire next year represents a significant undertaking by Congress. Beyond extending the tax breaks, Trump also dangled a host of additional cuts to everyone from tipped workers, vowing to eliminate taxes on tips, to senior citizens, promising to eliminate taxes on Social Security income.