US EditionHouse GOP unveils plan to raise debt limit by $4 trillion
- On May 12, 2025, Congressman Jason Smith and other Republican lawmakers introduced a tax cut proposal totaling $4 trillion during a session of the House Ways and Means Committee.
- The package aims to make President Trump’s 2017 tax cuts permanent and includes raising the SALT deduction cap amid internal GOP disagreements.
- The bill proposes increasing the SALT cap to $30,000 for individuals and couples, phases out deductions above income thresholds, and temporarily removes taxes on tips and overtime.
- New York GOP lawmakers called the $30,000 SALT cap 'insulting to their voters,' while deficit hawk Congressman Chip Roy questioned if the bill cuts the deficit, citing $1.5 trillion in claimed savings.
- The bill’s release triggers debate within the party and suggests challenges in balancing tax relief, deficit concerns, and constituent interests ahead of further negotiations.
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House GOP Advances $4 Trillion Debt Ceiling Hike Alongside Trump Tax Plan - News Facts Network
House Republicans are advancing a plan to raise the U.S. debt ceiling by $4 trillion... The post House GOP Advances $4 Trillion Debt Ceiling Hike Alongside Trump Tax Plan appeared first on News Facts Network.
House GOP unveils plan to raise debt limit by $4 trillion
House Republicans are moving forward with plans to raise the nation’s debt ceiling by $4 trillion as part of a larger plan to advance President Trump’s tax agenda. The proposal, which was included in legislative text unveiled by the House Ways and Means Committee on Monday, is in line with House instructions outlined in a blueprint adopted by congressional Republicans last month that kicked off the process by which the party is using to enact T…
Congress grew more conservative in 2024 in annual Club for Growth scorecard
An annual scorecard from conservative group Club for Growth shows an increase in House and Senate Republicans receiving perfect or lifetime scores of 90% and above, evidence that Capitol Hill is trending further to the right after the GOP’s sweeping victories in 2024. Club for Growth’s 2024 scorecard, obtained by the Washington Examiner, details that... The post Congress grew more conservative in 2024 in annual Club for Growth scorecard appeared…
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