Donald Trump has announced a range of tax cut proposals as he approaches the final stages of the presidential election. These proposals include eliminating taxes on overtime work and retirement benefits, as well as introducing new exemptions such as making interest on car loans tax-deductible.

Economists have cautioned that these tax cuts could result in significant fiscal deficits and complicate the existing tax code. The potential implications of these policies raise concerns about the long-term economic stability and the management of government finances.

As the election draws closer, the focus on tax reform continues to intensify, with potential impacts on both individual taxpayers and the wider economy.