💨 Abstract
House Republicans are rushing to pass a multi-trillion-dollar tax breaks package, aiming for a vote as soon as Wednesday. The ambitious "One Big Beautiful Bill Act," named by President Donald Trump, extends existing tax breaks and introduces new ones, funded partly by spending cuts to safety net programs and rollbacks on green energy tax breaks. Key provisions include no taxes on tips and overtime pay, increased standard deductions, and stricter work requirements for Medicaid and SNAP recipients.
Courtesy: wtop.com
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