Tax cut, US House and Donald Trump
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2hon MSN
It’s not at all clear the package, with its sweeping tax breaks and cuts to Medicaid, food stamps and green energy programs, has the support needed.
Republicans are trying to get a fiscal bill through the House this week. It’s a complex piece of legislation that includes tax cuts, spending increases, spending reductions and some tax hikes. In total,
After months of fits and starts, House Republicans have finally arrived at their most important week of the year: the week they try to pass (what is likely to be officially named) the One Big Beautiful Bill Act.
A plan for a hefty new tax on university endowments was crafted to target “woke” schools, lawmakers said. But a small Kansas college and a Texas medical school might also be hit.
House Republicans advanced the bill late Sunday, but budget analysts across the political spectrum warn that the proposal worsens the U.S. fiscal picture.
The bill would boost the tax break to as much as $2,500 but end it for children of undocumented immigrants and married parents who file separate returns.
Speaker Mike Johnson is trying to strike a delicate balance between blue-state Republicans and conservative hard-liners on a sprawling bill for Trump's agenda.
Republican leaders plan meeting with Trump Tuesday and vote Wednesday to try to pass their tax bill.