US EditionHouse Tax Bill Calls for $30,000 SALT, Omits Millionaire Tax
- On May 13, 2025, House Republicans introduced a major tax relief package in President Trump's key legislative effort, titled THE ONE, BIG, BEAUTIFUL BILL.
- The bill proposes extending the tax relief measures introduced in 2017, increasing state and local tax deductions and child tax credits, with funding partially derived from reductions in Medicaid, nutritional assistance programs, and renewable energy initiatives.
- The proposal introduces additional tax relief targeting workers who earn tips, individuals eligible for overtime compensation, Social Security recipients, and borrowers with auto loans, while also raising the estate tax threshold from $14 million to $15 million.
- The proposed tax cuts are expected to lower government revenue by approximately $4.9 trillion over ten years, while the associated Medicaid reductions, which include new work and reporting requirements, could result in 8.6 million fewer people receiving coverage.
- The package triggers political debate as some GOP lawmakers reject SALT increases as insufficient and others warn cutting health care for tax breaks risks coverage losses and higher deficits.
127 Articles
127 Articles
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…
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 …
Republicans float new tax breaks for tips, local taxes in Trump budget package
Republicans in the U.S. Congress proposed new tax breaks for tipped income, overtime pay, private school tuition, seniors, and state and local taxes on Monday as they fleshed out a sweeping budget package that would also cut taxes and tighten healthcare benefits for the poor.
Associated Press News
House GOP reveals Trump's tax breaks for tips, overtime and car loans, but costs run high
House Republicans have revealed the sweeping tax provisions for President Donald Trump’s big bill. It tallies at $4.9 trillion in costs so far, partly paid for with reductions to Medicaid, food stamps and green energy programs used by millions of Americans.
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