Trump, tax cuts and Big Beautiful Bill
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Trump, Vance
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Trump's legislation narrowly cleared Congress. Now the administration is facing the challenge of selling it to the public.
Vice President JD Vance made the Trump administration’s first big pitch to sell the public on President Donald Trump’s sweeping budget-and-policy package in the swing political turf of northeastern Pennsylvania.
Two Republican senators and a broad coalition of funders made a big difference for private foundations during negotiations over President Donald Trump’s tax and spending legislation
The president’s signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire.
Trump could order the Treasury Department to properly define a "capital gain" as any increase in the value of a stock or property AFTER INFLATION ADJUSTING from the time of the purchase of the asset to the time of the sale. In that case, the real rate of tax on capital gains would fall, and investment would rise. And tax revenues would RISE!
There are three federal tax provisions related to child care. Trump's new tax law recently expanded all of them through a reconciliation package.
For the last decade, these dual programs run by the nonprofit Children’s Aid have taught families how to eat healthier on a budget. But now, under President Donald Trump’s new spending bill, the long-standing initiatives and others like them across the state will shut down by October, unless they find a way to plug the funding gap.
Colleges and universities will also take a hit, as will taxpayers who depend on Medicaid, food assistance and owe money on their student loans.
Under the final iteration, the so-called Trump accounts are custodial individual retirement accounts for kids, with special rules until the year the child turns 18. For the next few years, they come with $1,000 of seed money from the Treasury Department for newborns. That money would grow tax-deferred, with income taxes due upon withdrawal.