Tag #Tax Cuts

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abcnews.go.com

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May 21, 10:12

House Republicans Push for Vote on Multi-Trillion Dollar Tax Cut Package

House Republicans are aiming for a Wednesday vote on a tax cut package that includes trillions of dollars in tax breaks, offset by cuts to social programs and increased defense spending, projected to increase the federal deficit by $3.8 trillion.

House Republicans Push for Vote on Multi-Trillion Dollar Tax Cut Package

House Republicans are aiming for a Wednesday vote on a tax cut package that includes trillions of dollars in tax breaks, offset by cuts to social programs and increased defense spending, projected to increase the federal deficit by $3.8 trillion.

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What are the immediate economic and social consequences of passing the proposed Republican tax cut package?

The House Republicans aim to vote on a multi-trillion-dollar tax cut package by Wednesday, facing internal disagreements. The Congressional Budget Office projects a $3.8 trillion increase in the federal deficit over ten years due to the tax cuts, partially offset by $1 trillion in reduced spending on programs like Medicaid and food stamps. This will disproportionately impact low-income households.

theglobeandmail.com

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May 21, 04:11

Trump Urges House Republicans to Pass Multitrillion-Dollar Tax Cut Bill Amidst Internal Divisions

President Trump urged House Republicans to pass his "One Big Beautiful Bill Act," a multitrillion-dollar tax cut package facing opposition due to proposed cuts to Medicaid and disagreements over state and local tax deductions, potentially adding $3.3 trillion to the national debt.

Trump Urges House Republicans to Pass Multitrillion-Dollar Tax Cut Bill Amidst Internal Divisions

President Trump urged House Republicans to pass his "One Big Beautiful Bill Act," a multitrillion-dollar tax cut package facing opposition due to proposed cuts to Medicaid and disagreements over state and local tax deductions, potentially adding $3.3 trillion to the national debt.

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What are the immediate impacts of President Trump's lobbying efforts on the House Republicans' tax cut bill?

President Trump urged House Republicans to pass his tax cut bill, warning against cuts to Medicaid and urging New York lawmakers to forgo a larger local tax deduction, despite his campaign promise. He praised the Speaker but criticized holdouts, claiming "unbelievable unity," though negotiations remain stalled.

foxnews.com

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May 19, 22:11

Trump Tax Plan Projected to Boost Wages and Family Income

The Council of Economic Advisers projects President Trump's tax plan will boost family take-home pay by $7,800-$13,300 and wages by $6,100-$11,600, increase investment from 4.9% to 7.5%, and create/save 4.2 million jobs, while a failure to extend the 2017 Tax Cuts and Jobs Act could lead to a 22% ta...

Trump Tax Plan Projected to Boost Wages and Family Income

The Council of Economic Advisers projects President Trump's tax plan will boost family take-home pay by $7,800-$13,300 and wages by $6,100-$11,600, increase investment from 4.9% to 7.5%, and create/save 4.2 million jobs, while a failure to extend the 2017 Tax Cuts and Jobs Act could lead to a 22% ta...

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What are the immediate economic impacts projected by the CEA if President Trump's proposed tax policies are enacted?

The Council of Economic Advisers projects that President Trump's tax plan will significantly increase take-home pay for American families and wages for U.S. workers. Specifically, they estimate wage increases of $6,100 to $11,600 and family take-home pay increases of $7,800 to $13,300. This projection includes a $400-$450 annual increase in take-home pay for qualifying seniors.

abcnews.go.com

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May 17, 10:09

Trump-Backed $5 Trillion Tax Cut Bill Advances in Congress

President Trump's "One Big Beautiful Bill Act" proposes $5 trillion in tax cuts, partially offset by spending cuts to programs like food assistance and environmental protection, and includes provisions such as ending taxes on overtime and tips and a new $10,000 tax break on American-made car loans.

Trump-Backed $5 Trillion Tax Cut Bill Advances in Congress

President Trump's "One Big Beautiful Bill Act" proposes $5 trillion in tax cuts, partially offset by spending cuts to programs like food assistance and environmental protection, and includes provisions such as ending taxes on overtime and tips and a new $10,000 tax break on American-made car loans.

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What are the potential long-term impacts of this tax plan on federal spending, social programs, and the political landscape?

The bill's passage hinges on Trump's continued engagement, as he acts as a key negotiator to overcome internal Republican disagreements. Success depends on resolving disagreements between fiscal conservatives and those prioritizing local impacts of tax cuts before the Memorial Day deadline.

bbc.com

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May 17, 07:08

Republican Tax Bill Fails Amidst Internal Divisions

The House Republicans failed to pass Donald Trump's "One Big Beautiful Bill Act," a $4.9 trillion tax cut package, due to internal disagreements over budget cuts, Medicaid cuts, the SALT deduction cap, and food assistance program reforms. Four Republicans voted against it, highlighting deep division...

Republican Tax Bill Fails Amidst Internal Divisions

The House Republicans failed to pass Donald Trump's "One Big Beautiful Bill Act," a $4.9 trillion tax cut package, due to internal disagreements over budget cuts, Medicaid cuts, the SALT deduction cap, and food assistance program reforms. Four Republicans voted against it, highlighting deep division...

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No Poverty

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How do the disagreements regarding Medicaid cuts and the SALT deduction cap reflect broader ideological divisions within the Republican Party?

Disagreements over the bill's scope, specifically the extent of budget cuts and the details of Medicaid and SALT deductions, led to its failure. Conservative Republicans demanded deeper cuts to reduce the national debt, while moderates and those from high-tax states opposed significant changes to social programs and tax deductions. This internal conflict reveals the party's struggle to reconcile fiscally conservative and socially moderate wings.

cbsnews.com

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May 15, 10:12

House Republicans Seek Billions in Climate Funding Cuts, Threatening Clean Energy Growth

House Republicans introduced a bill to cut billions in climate funding from the Inflation Reduction Act, impacting renewable energy and electric vehicle tax credits; the bill also aims to streamline fossil fuel permitting and includes $2 billion for the strategic petroleum reserve, potentially incre...

House Republicans Seek Billions in Climate Funding Cuts, Threatening Clean Energy Growth

House Republicans introduced a bill to cut billions in climate funding from the Inflation Reduction Act, impacting renewable energy and electric vehicle tax credits; the bill also aims to streamline fossil fuel permitting and includes $2 billion for the strategic petroleum reserve, potentially incre...

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Climate Action

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How do the proposed cuts to clean energy initiatives align with the distribution of IRA benefits across congressional districts?

The bill's core objective is to reverse key climate and energy provisions within the IRA, potentially hindering the $522 billion in planned climate investments. This action comes despite 80% of IRA spending benefiting Republican districts and significant lobbying efforts from environmental groups and renewable energy companies to protect these credits.

npr.org

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May 21, 07:11

Trump Rallies Republicans Behind Sweeping Bill Amidst Internal Divisions

President Trump visited the Capitol today to rally House Republicans behind a sweeping bill including tax cuts, spending cuts, deregulation and immigration changes, facing significant internal opposition and tight deadlines before a potential House vote by Thursday.

Trump Rallies Republicans Behind Sweeping Bill Amidst Internal Divisions

President Trump visited the Capitol today to rally House Republicans behind a sweeping bill including tax cuts, spending cuts, deregulation and immigration changes, facing significant internal opposition and tight deadlines before a potential House vote by Thursday.

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What immediate impact did President Trump's intervention have on the prospects of the Republican's comprehensive bill?

President Trump visited Capitol Hill to urge House Republicans to pass a comprehensive bill encompassing tax cuts, spending reductions, deregulation, and immigration reform. Republican infighting has delayed the bill's progress for weeks. Trump's visit aimed to unify the party and secure passage.

aljazeera.com

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May 20, 10:13

US National Debt Reaches \$36.2 Trillion, Raising Fiscal Stability Concerns

The US national debt stands at \$36.2 trillion (122 percent of GDP), fueled by persistent government deficits and growing by \$1 trillion every three months, raising concerns about long-term fiscal stability.

US National Debt Reaches \$36.2 Trillion, Raising Fiscal Stability Concerns

The US national debt stands at \$36.2 trillion (122 percent of GDP), fueled by persistent government deficits and growing by \$1 trillion every three months, raising concerns about long-term fiscal stability.

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What are the immediate consequences of the US's \$36.2 trillion national debt?

The US national debt has reached \$36.2 trillion, representing 122 percent of the GDP. This is primarily due to consistent government deficits, where spending exceeds revenue. The debt is growing rapidly, adding roughly \$1 trillion every three months.

pt.euronews.com

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May 17, 22:08

House Republicans Fail to Pass Tax Cut Bill Amidst Party Divisions

The House Budget Committee rejected a Republican-backed tax cut and spending bill, 16-21, due to opposition from far-right Republicans and Democrats who criticized its impact on healthcare and food assistance programs. President Trump urged party unity but failed to secure passage.

House Republicans Fail to Pass Tax Cut Bill Amidst Party Divisions

The House Budget Committee rejected a Republican-backed tax cut and spending bill, 16-21, due to opposition from far-right Republicans and Democrats who criticized its impact on healthcare and food assistance programs. President Trump urged party unity but failed to secure passage.

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What immediate consequences resulted from the House Republicans' failure to pass the tax cut and spending reduction package?

The House Republicans failed to pass a tax cut and spending reduction package in the House Budget Committee, marking a major setback for the Trump administration. A group of far-right representatives unexpectedly joined Democrats to vote against the bill, citing insufficient cuts to Medicaid and other demands. The bill's failure prevents a House floor vote next week.

bbc.com

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May 17, 07:08

Trump Budget Bill Fails in Congress Amidst Republican Divisions

President Trump's "big, beautiful bill" faced a setback on Friday when five Republicans joined Democrats to oppose it in Congress, demanding deeper budget cuts and raising concerns about the bill's $3.72 trillion cost over ten years.

Trump Budget Bill Fails in Congress Amidst Republican Divisions

President Trump's "big, beautiful bill" faced a setback on Friday when five Republicans joined Democrats to oppose it in Congress, demanding deeper budget cuts and raising concerns about the bill's $3.72 trillion cost over ten years.

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What factors contributed to the Republican divisions over the budget bill's content?

The bill's failure highlights divisions within the Republican party regarding the extent of budget cuts. Hard-line Republicans desired deeper cuts, while others expressed concerns about reductions to programs like Medicaid. The five dissenting Republicans demanded further Medicaid cuts and a repeal of green energy tax cuts as conditions for their support.

us.cnn.com

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May 16, 22:08

House Republicans Block Trump's Spending Bill in Committee Vote

Five Republicans blocked President Trump's sweeping tax and spending cuts bill in a key House committee vote on Friday, creating a major setback for the GOP and throwing the bill's future into doubt, as demands for deeper spending cuts to Medicaid and clean energy programs emerged.

House Republicans Block Trump's Spending Bill in Committee Vote

Five Republicans blocked President Trump's sweeping tax and spending cuts bill in a key House committee vote on Friday, creating a major setback for the GOP and throwing the bill's future into doubt, as demands for deeper spending cuts to Medicaid and clean energy programs emerged.

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What immediate consequences resulted from the Republican hardliners' blocking of the committee vote on President Trump's bill?

Five Republican hardliners blocked a key committee vote on Friday, derailing President Trump's tax and spending cuts bill. The bill's failure creates a major setback for House Republicans and Trump, who faces pressure to secure passage before the weekend concludes. The holdout Republicans demanded deeper spending cuts to Medicaid and clean energy programs.

cbsnews.com

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May 15, 07:13

House Approves Contentious Budget Bill Amidst Republican Divisions

The House is advancing President Trump's budget bill, with three key committees voting to approve contentious proposals despite internal Republican divisions, including Medicaid cuts, food stamp changes and a debated SALT cap; the bill now proceeds to the House floor, then the Senate.

House Approves Contentious Budget Bill Amidst Republican Divisions

The House is advancing President Trump's budget bill, with three key committees voting to approve contentious proposals despite internal Republican divisions, including Medicaid cuts, food stamp changes and a debated SALT cap; the bill now proceeds to the House floor, then the Senate.

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How do the proposed changes to Medicaid and SNAP reflect broader Republican policy goals?

The bill includes substantial cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP), reflecting the Republican focus on fiscal responsibility. Disputes over the SALT deduction cap highlight divisions within the Republican party, specifically between representatives of blue and red states. The passage through the House, however, does not guarantee Senate approval.

Showing 97 to 108 of 221 results