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Former President Donald Trump just announced his running mate: Ohio Sen. JD Vance.
The middle class comprises American households making roughly between $50,000 and $150,000.
Looking at those statistics, what can middle-class retirees expect if Trump and Vance win in November?
If Trump wins the election, there might be good news ahead.
Ronan is referring to the Tax Cuts and Jobs Act (TCJA).
The TCJA had previously raised the income threshold for who is subject to estate taxes.
And Medicare Part B premiums increase for higher earners as well.
An extension of the TCJA might help in these areas.
With all of that said the average retiree might not feel a huge jolt to their wallet.
If this happens, retirees, especially at higher income levels, will benefit.
For most retirees, making these tax cuts permanent will not matter as much.
In terms of healthcare, there have not been specific proposals thus far, Ronan said.
During this election cycle, be sure to maintain a long-term perspective and stick to your financial plan.
Dont let headlines cause you to take action that you might later regret.
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