Trump, Big Beautiful Bill and estate tax
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The move reveals both the power of philanthropic groups to sway legislators and a split in the administration’s coalition.
Key provisions in the president’s signature legislation will take effect at different times over several years.
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.
Democrats who’ve decried the law’s cuts to Medicaid and food stamps are expected to try to use it against Republicans in closely contested congressional campaigns next year, including one expected to play out in the Luzerne County area where Vance promoted the legislation.
The project involves capping the highway from 10th to 13th Streets to create a park and more developable land to reconnect Chinatown with the neighborhood to its north.
The president’s signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire.
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'Isn't That Common Sense?': JD Vance Embarrasses Himself, Touts Trump's Billionaire Tax Breaks During Bizarre RantDuring his remarks at a rally today, Vice President JD Vance touted the Trump Administration's plan to give massive tax breaks to billionaires. Vance asked, "Isn't that common sense?"
Democrats are poised to contest the Republican talking points about the "big, beautiful bill" at every turn, emphasizing the cuts to Medicaid.
The federal policy change raises questions about the electric vehicle market after historic investments and state incentives poured in to build the new $4 billion factory.
President Donald Trump’s sweeping $3.4 trillion fiscal package is already creating opportunities for segments of the energy and climate industries that had fallen out of favor, struggled to grow or haven’t managed to break through.
Colleges and universities will also take a hit, as will taxpayers who depend on Medicaid, food assistance and owe money on their student loans.
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!