Medicaid, House Republicans and GOP
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In addition to raising the endowment tax rate for the richest schools to as much as 21%, the bill hits schools with heavy foreign student enrollment.
Under the plan, states would take on some financial responsibility for SNAP, and the size of the costs they take on would be tied to the error rate.
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WASHINGTON (AP) — House Republicans proposed sweeping tax breaks Monday in President Donald Trump’s big priority bill, tallying at least $4.9 trillion in costs so far, partly paid for with cuts to Medicaid and green energy programs used by millions of Americans.
House Republicans’ release of the tax provisions in their massive fiscal bill provides a crucial initial reading of what party leaders think could pass, culminating weeks of intense negotiations among fractious GOP lawmakers.
The current version of the proposal calls for the state and local tax deduction cap to be hiked to $30,000, which a group of blue-state Republicans have said is a nonstarter.
5hon MSN
Language added to a budget bill would allow for terminating the tax-exempt status of groups deemed “terrorist supporting organizations,” but that term is not defined.
A new GOP tax bill could let the Treasury Secretary revoke nonprofit status putting Public Service Loan Forgiveness at risk for thousands of student loan borrowers
Nevertheless, a new letter sent Monday from the CBO to committee Chairman Brett Guthrie confirms that the panel's legislative recommendations, released late Sunday, would meet its lofty target for $880 billion of savings over the next decade.