💨 Abstract

House Republicans unveiled sweeping tax provisions worth at least $4.9 trillion, including extending and boosting prior tax breaks, and adding new ones for tipped wages, auto loans, and Social Security benefits, as per President Trump's promises. The package, dubbed 'THE ONE, BIG, BEAUTIFUL BILL,' aims to triple the state and local tax deduction, impose heavy taxes on university endowments, and cut Medicaid and other programs.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖