Individual Tax Cuts

Individual tax cuts are reductions in the amount of taxes that individuals owe to the government. These cuts typically lower tax rates, increase deductions or credits, and can simplify the filing process. The goal is to leave taxpayers with more of their income, which can boost personal savings, investments, and consumption. Such policies aim to stimulate economic growth, improve disposable income, and make the tax system more equitable. However, they also impact government revenue and budget priorities, so their design and implementation are carefully considered to balance benefits and fiscal sustainability.