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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.
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,
1hon MSN
WASHINGTON (AP) — 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.
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.
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Others could see their monthly benefits reduced if the bill were to become law, according to the nonpartisan Congressional Budget Office.
Speaker Mike Johnson delivered a major win for President Donald Trump early on Thursday morning, uniting a deeply divided House GOP to pass a bill that many of them were still pushing fiercely to change.
After a meeting with Trump and conservative holdouts, Speaker Mike Johnson said he planned told hold a floor vote Wednesday night or Thursday morning.
WASHINGTON — Republicans made several eleventh-hour changes to their massive tax cut and immigration bill as they tried to win over GOP holdouts and pass the bill through the House.
The Kentucky Republican, one of only two to vote against Trump’s 1,000-page bill, took the floor to offer his GOP colleagues a “dose of reality” about how the bill will saddle the U.S. with trillions in debt for decades to come.