Project 2025, a major topic at the GOP convention, proposes significant changes to the U.S. tax system under a potential second Trump term. The plan includes overhauling income tax brackets and capital gains rates, and revamping the IRS. While some changes could be enacted via executive action, many tax policy proposals would require legislation, which could be challenging without Republican control of Congress. Critics argue that the plan would provide substantial tax breaks to corporations and the wealthiest individuals, calling it dangerous for America’s future.