US EditionHouse Tax Bill Calls for $30,000 SALT, Omits Millionaire Tax
- House Republicans proposed a $4.9 trillion tax cut bill called THE ONE, BIG, BEAUTIFUL BILL, advancing President Trump's tax priorities in 2025.
- The bill extends Trump-era tax breaks, boosts the standard deduction to $32,000 per household, and triples the SALT deduction from $10,000 to $30,000 for couples despite some GOP opposition.
- Additional measures feature expanded child tax credits, new deductions benefiting tipped workers, provisions for overtime compensation, enhanced Social Security benefit deductions, support for auto loan borrowers, and a possible 21% levy on endowments of private universities.
- The proposed tax breaks would be partially financed by $880 billion in reductions primarily targeting federal health coverage, nutritional assistance, and renewable energy initiatives, with the Congressional Budget Office estimating a loss of health insurance for 8.6 million people.
- The proposal triggers debate over tax priorities and healthcare cuts, with Republicans claiming waste reduction and critics warning millions will lose coverage and urging unity to protect Medicaid.
171 Articles
171 Articles
AFP Applauds House Ways & Means Committee Ahead of Markup - Americans for Prosperity
Washington, DC—Today Americans for Prosperity (AFP), the nation’s premiere grassroots organization, commended the House Ways & Means Committee on the legislative text released yesterday, which permanently extends key provisions of the 2017 Tax Cuts and Jobs Act (TCJA), while also eliminating significant wasteful spending and crony giveaways from the Biden administration. AFP Chief Government Affairs Officer Brent Gardner recognized the hard work…
College costs would soar for some low-income students under Republican bill
Nearly 4.5 million low-income college students would lose some or all of their federal financial aid if Republicans in the House get their way.That’s according to an analysis from the left-leaning Center for American Progress, shared exclusively with The Hechinger Report. The report looks at the ways a GOP House budget bill would affect Pell Grants, the federal financial aid program that covers college expenses for students from low-income famil…
Lawler: Current Tax Plan Won't Get My Vote Due to SALT, 'We Don't Have to Find a Dime' for SALT
On Monday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Mike Lawler (R-NY) stated that the current SALT provision in the Republican tax proposal “is just woefully inadequate.” And he would vote against the bill as it currently stands. He also The post Lawler: Current Tax Plan Won’t Get My Vote Due to SALT, ‘We Don’t Have to Find a Dime’ for SALT appeared first on Breitbart.
House tax plan triples SALT deduction cap to $30K — but New York GOPers say it’s not enough
Draft legislation circulated by the House Ways and Means Committee would raise the current cap to $30,000 on individuals with taxable annual income of $400,000 or fewer.
The Daily Wire
Restoring LibertyTrump’s ‘One Big, Beautiful Bill’ Gets ‘No Tax’ On Tips And Overtime
Two of President Donald Trump’s major tax-related campaign promises that will impact millions of American workers have made it into legislation proposed for the so-called “one big, beautiful bill,” albeit only for a period that would not last beyond his second term.“No Tax On Tips” and “No Tax On Overtime” appear in a 389-page measure released by the House Ways and Means Committee on Monday, with provisions saying the deductions would expire at …
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