Trump's Big Tax Bill Clears The House
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U.S. Rep. Elise Stefanik said she was the “deciding vote” on a megabill that quadrupled the maximum state and local tax deduction.
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.
There are certain elected officials who appear to have a certain orange hue about them," one Democrat scoffed at a tanning provision originally in the bill.
Millions of low-income Americans, including families with children, could lose their food stamp benefits under House Republicans’ newly passed tax and spending cuts package, according to a Congressional Budget Office analysis released Thursday.
We highlighted the substantive changes made by House Republicans to secure the support of several holdout members.
Immigrants and wealthy universities, as well as foreign companies, would see higher taxes under the House-passed bill.