Tag #Trump Tax Cuts

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Trump Tax Cuts Projected to Increase Uninsured Americans by 10 Million by 2034

President Trump's tax and spending cuts, enacted July 4th, are projected by the CBO to leave 10 million more Americans uninsured by 2034, primarily due to Medicaid changes (work requirements, eligibility reviews) and expiring Affordable Care Act subsidies, increasing the national deficit by $3.4 tri...

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Trump Signs $3.3 Trillion Bill, Permanently Extending Tax Cuts

President Trump signed a $3.3 trillion bill into law on Friday, July 4th, permanently extending his 2017 tax cuts, increasing the debt limit by $5 trillion, and allocating funds to defense and immigration. The bill passed the Senate 51-50 with a tie-breaking vote from Vice President JD Vance, and fa...

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Senate Tax Bill Makes 2017 Trump Tax Cuts Permanent

The Senate released a draft tax bill making nearly all 2017 Trump tax cuts permanent, including capital expensing and school choice credits, while lacking substantial spending cuts, promising future reductions.

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Trump's Tax Cut Plan: Economic Stimulus or Debt Crisis?

President Trump's proposed tax cuts, which include extending the 2017 Tax Cuts and Jobs Act and adding potential cuts on tips, overtime, and Social Security, are under debate by lawmakers, potentially boosting consumer spending but also increasing the deficit and impacting interest rates; economists...

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House Republicans Propose $880 Billion in Medicaid Cuts to Fund Tax Breaks

House Republicans unveiled a plan to cut $880 billion from Medicaid to fund $4.5 trillion in tax breaks, potentially leaving 8.6 million without health coverage over a decade, sparking a major political battle.

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House Republicans' Tax Cut Plan Faces Scrutiny Amidst Contradictory Economic Data

House Republicans propose extending tax cuts from the 2017 Tax Cuts and Jobs Act, primarily benefiting high-income households, while simultaneously cutting funding for Medicaid and SNAP, impacting vulnerable populations; this plan contradicts the supply-side economic theory underpinning the tax cuts...

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New Tax Law Offers Auto Loan Interest Deduction

President Trump's new tax law introduces a tax deduction of up to \$10,000 for interest on new, American-made vehicle loans from 2025-2028, impacting an estimated 3.5 million taxpayers, but phasing out for higher income individuals.

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Trump Signs Sweeping Tax Cut and Spending Bill into Law

President Trump signed a sweeping tax cut and spending bill into law on July 4th, extending existing tax cuts, slashing taxes on tips and overtime, and increasing military and deportation spending, while cutting Medicaid and SNAP, despite projected increases to the national debt and significant publ...

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Weak US Bond Auction Signals Investor Concerns Over Rising Debt

Weak demand for US Treasury bonds during Wednesday's auction, the lowest since February, signals investor concerns about the US government's debt levels following the recent tax cuts, leading to higher yields and potential risks for future social programs.

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House Republicans Confront Internal Divisions in Finalizing Trump's "Big Beautiful Bill

House Republicans are finalizing President Trump's "big beautiful bill", including sweeping changes to tax, immigration, and energy policy, facing internal divisions and a July deadline to avoid a government default; the bill includes Medicaid reforms, extension of Trump's tax cuts, and potential ch...

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House Republicans' Budget Resolution to Slash Medicaid Funding

House Republicans passed a budget resolution including the largest Medicaid cut in US history, potentially impacting millions and causing hospital and nursing home closures due to a projected $612 billion funding gap over 10 years created by limiting states' ability to tax insurers and healthcare pr...

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Trump Tax Cuts Expiration Debate: Republicans Warn of Economic Crisis

The House Ways & Means Committee debated the expiration of President Trump's 2017 tax cuts, with Republicans warning of a potential 43.4% top tax rate for 26 million small businesses—higher than in China—while Democrats raised concerns about the deficit and benefits for the wealthy.

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Showing 1 to 12 of 14 results