House Megabill to Expand Health Savings Account Eligibility and Benefits

House Megabill to Expand Health Savings Account Eligibility and Benefits

The One Big Beautiful Bill Act, passed by the House of Representatives on May 22 and currently being debated in the Senate, contains an additional tax benefit designed to help Americans pay for medical expenses. This provision expands eligibility for health savings accounts (HSAs), which allow Americans to use pre-tax money to pay for certain medical costs. Contributions to HSAs have so-called “triple tax advantages,” according to Bank of Americ…

Hitchhiker’s Guide to the Tax Code: America on the Brink of a Paradigm Shift » The American Spectator | USA News and Politics

Donald Trump’s “One Big Beautiful Bill” is making its way through Congress. What sounds like it was pulled from a kindergarten politics workshop might just mark the return of the United States as the true “Land of the Free.” A confession up front: I’m a traditionalist and I am German. I value the professional dullness that used to define politics. I’ve always been bothered by politicians who, after pushing a bill through, give it names that soun…

2 Good Things in One ‘Big, Beautiful Bill’

The House of Representatives completed an overnight session on May 22 with a vote on the One Big Beautiful Bill Act. It passed by one very small margin—215-to-214. Senate Minority Leader Chuck Schumer, D-N.Y., immediately condemned it—and expressed anger that it would restrict federal funding of abortion. “A few hours ago, while most Americans were fast asleep, House Republicans rammed through their so-called Big, Beautiful Bill through the Hous…

Biofuel Producers Win Big in House Reconciliation Bill - Taxpayers for Common Sense

The U.S. House of Representatives’ FY2025 budget reconciliation bill, known as the One Big Beautiful Bill Act, takes an axe to many of the Biden-era energy tax credits but would extend and expand the 45Z Clean Fuel Production Credit. The provision was proposed in the House Ways and Means Committee’s draft text, approved by the committee on May 14, and passed by the House unchanged on May 22.  The extension of the 45Z tax credit would cost Americ…