Trump, Big Bill and Tax Break
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Trump, Republicans and beautiful bill
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WASHINGTON (AP) — The multitrillion-dollar tax breaks package passed by House Republicans early Thursday would gut clean energy tax credits that Democrats approved three years ago while supporting increased mining, drilling and other traditional energy production.
House Republicans stayed up all night to pass their multitrillion-dollar tax breaks package, with Speaker Mike Johnson defying the skeptics and unifying his ranks to muscle President Donald Trump's priority bill to approval Thursday.
The one-seat majority that voted to pass President Donald Trump’s ‘big, beautiful bill” Thursday would have had additional room to
Others could see their monthly benefits reduced if the bill were to become law, according to the nonpartisan Congressional Budget Office.
U.S. Senate Republicans said on Thursday they will seek substantial changes to President Donald Trump's sweeping tax and spending bill after it narrowly won approval in the House of Representatives, in a sign that significant hurdles remain for the package.
If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phases out over $500,000.
US President Donald Trump’s signature tax bill passed the 435-member House of Representatives on Thursday morning by one vote. The sprawling, multitrillion-dollar package proposed by Republicans, which would (among many other things) slash funding for safety net programs in favor of extending tax cuts,
Overall, the Republican tax bill, known as the One Big Beautiful Bill Act, would add $2.3 trillion to the deficit over 10 years, according to the CBO.
After a meeting with Trump and conservative holdouts, Speaker Mike Johnson said he planned told hold a floor vote Wednesday night or Thursday morning.
The "big, beautiful bill" passed by House Republicans includes hundreds of billions in cuts to SNAP, more stringent work requirements and more costs to states.