US EditionSenate Panel Kills SALT Compromise, Permanently Extends Tax Cuts in Budget Bill
- The U.S. Senate Finance Committee has released revisions to the One Big Beautiful Bill Act, making parts of the 2017 Tax Cuts and Jobs Act permanent, which may increase the national debt by trillions by 2034, according to budget watchdogs.
- Senate Finance Committee Chairman Mike Crapo stated that this bill extends critical provisions, allowing families and businesses to save and plan for the future.
- The changes may increase the national debt through significant revenue losses, with budget watchdogs warning about trillions lost by 2034.
- Rep. Mike Lawler remarked that the committee's decision to keep the SALT deduction cap at $10,000 makes the bill 'dead on arrival' in the House, undoing prior negotiations on the matter.
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Senate panel kills SALT compromise_ permanently extends tax cuts in budget bill
(The Center Square) – The U.S. Senate Finance Committee has released some of the final pieces of Republicans' multitrillion-dollar budget reconciliation bill implementing President Donald Trump’s policy priorities. ...
·United States
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Senate Finance Committee kills SALT compromise, permanently extends tax cuts in budget bill
Senator Thune may still be able to get 51 votes for the bill to pass the Senate, but the committee’s sledgehammer to the House’s SALT deduction cap will make the bill “dead on arrival.”
·Washington, United States
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Leaning Left3Leaning Right9Center6Last UpdatedBias Distribution50% Right
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