US EditionUS House tax committee unveils partial tax plan to achieve Trump agenda
- On Friday, members of the House Ways and Means Committee, led by Republicans, unveiled a partial proposal aimed at advancing President Trump's 2017 tax reform agenda.
- The proposal builds on the 2017 Tax Cuts and Jobs Act by permanently extending lower personal income tax brackets and making prior tax benefits permanent.
- It includes a temporary increase in the standard deduction from 2025 to 2028, a four-year boost to the child tax credit, increased deduction for pass-through income, and a raised estate tax exemption.
- The estate tax exemption rises permanently to $15 million with inflation indexing, while the plan provides a one-year inflation adjustment reducing income taxes for all but the top 37% bracket.
- The proposal signals progress toward Trump's 'big, beautiful bill' but faces critiques for favoring wealthy taxpayers and possibly making some benefits temporary while extending others permanently.
17 Articles
17 Articles
FERGUSON: Trump’s secret sauce — tax less, build more
By Drew Ferguson Guest Opinion During my time in Congress, I fought for pro-growth tax policies that empower the engine of our economy: American businesses. Right now, we have a golden opportunity to unleash that engine, thanks to the bold tax reform agenda that President Trump and the Republicans in Congress are proposing. At his recent rally in Michigan, Trump made it clear: America’s economic comeback starts with cutting taxes that punish pro…
What's in the House budget bill for tax relief?
The first portion of a new tax cut proposal released Friday by House Republicans on the Ways and Means Committee marks the latest step in delivering on President Donald Trump’s call for more pro-growth tax relief. The package builds on provisions from the 2017 Tax Cuts and Jobs Act and includes income tax reductions, expanded […] The post What’s in the House budget bill for tax relief? appeared first on Must Read Alaska.
Trump’s proposed $5000 baby bonus isn’t much of a Mother’s Day present
President Trump’s proposed baby bonus would have come in really handy at chez Guy Birken 15 years ago. Money was a bit of an issue for my family when we welcomed our first child in 2010. We’d moved to Indiana from Ohio in June of that year so my husband could take a higher paying job. I’d left my own job as a high school English teacher. Our baby was born in late August, making it impossible to find a teaching job in our new town. Our timing was…
New text makes clear 'House Republicans are proposing more tax cuts for the wealthy'
Since Republican leadership in the U.S. House of Representatives on Friday evening released tax-related legislative language and announced a markup for President Donald Trump's "One, Big, Beautiful Bill," economic justice advocates have sounded the alarm. House Ways and Means Committee Chair Jason Smith (R-Mo.) scheduled a Tuesday afternoon hearing, shared 28 pages of legislative proposals for the reconciliation package, and positively framed th…
US House tax committee unveils partial tax plan to achieve Trump agenda
The U.S. House committee in charge of taxes released on Friday evening a partial text of its part of President Donald Trump's proposed tax agenda that would make his 2017 tax cuts permanent, leaving out contentious issues before a planned vote on Tuesday.
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