House Passes Trump Tax Bill
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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.
After a meeting with Trump and conservative holdouts, Speaker Mike Johnson said he planned told hold a floor vote Wednesday night or Thursday morning.
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.
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.
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.
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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.
While all House Democrats voted against President Trump's "big, beautiful bill," five Republicans also did not vote in favor — including one who fell asleep.
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,
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In today’s edition … How Medicaid cuts could directly affect more than just House races ... Democrats’ plans for Trump’s crypto dinner … A remembrance of Gerry Connolly.
Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.
Investors of clean-power stocks are running for the exits after a massive tax and spending bill that would gut former President Joe Biden’s landmark climate law narrowly passed the House of Representatives.