President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

Libertarians who say that certain tax deductions and credits are loopholes that need to be closed argue that these loopholes distort the tax code, are inefficient, subsidize high-income taxpayers, ...