House passes Trump's 'big beautiful' tax bill
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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.
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.
We highlighted the substantive changes made by House Republicans to secure the support of several holdout members.
The cost for a 30-year fixed-rate mortgage crept up to levels not seen since February, reflecting bond market fears over Trump’s plan to pay for tax cuts with an estimated $3.8 trillion in new debt. “Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,
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.
Immigrants and wealthy universities, as well as foreign companies, would see higher taxes under the House-passed bill.
Many Americans who make less than $51,000 a year would see their after-tax income fall if the legislation is passed as is.