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There’s a stark contrast between the effects on high earners and those on low-income households in a sprawling legislative package House Republicans passed Thursday.The bulk of the financial benefits in the legislation — called the “One Big Beautiful Bill Act” — would flow to the wealthiest Americans,
U.S. Rep. Elise Stefanik said she was the “deciding vote” on a megabill that quadrupled the maximum state and local tax deduction.
The "big, beautiful" and egotistically named "Trump Accounts" offer a flash of cash and loud branding — but not much else to really support parents.
Thursday morning's vote is already at the center of ads in swing districts, as Democrats and Republicans battle for control of the House in the midterm elections.
California Republicans were pleased that lower- and middle-income residents will be able to deduct more of their state and local taxes, or SALT. The deduction, now capped at $10,000, would rise to $40,000 for those with taxable incomes of less than $500,000.
We highlighted the substantive changes made by House Republicans to secure the support of several holdout members.
House Republicans are proposing to gut energy savings and clean energy tax credits in President Donald Trump’s “big, beautiful” tax bill — money that is creating thousands of jobs in GOP states.