Tax Day: 53 million filers used new Trump tax exemptions, Treasury says

The U.S. Treasury reported that 53 million taxpayers claimed new Trump-era tax exemptions this filing season, releasing the figure as the April 15 Tax Day deadline arrived. These exemptions trace to tax changes enacted under the Trump administration and lowered tax bills for millions of filers this year. Economists Zohran Mamdani, Gabriel Zucman and Joseph Stiglitz warned on Tax Day that the exemptions deepen a regressive system by allowing wealthier taxpayers to contribute proportionally less. Republican leaders who promoted last year’s tax cuts have struggled to turn the exemptions into political gains as Iran tensions and rising costs dominate the news cycle.