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Highly Anticipated GOP House Tax Bill Text Releaseddocs.house.gov/meetings/WM/WM00/20250513/118260/BILLS-119-CommitteePrint-S001195-Amdt-1.pdf
365 sats \ 9 comments \ @Cje95 12 May Politics_And_Law
Key points that have been risen so far include
  • increasing the SALT capt to $30k from its current level of $10k
  • getting rid of taxes on tips and overtime
  • proposes exempting car loan interest payments through 2028, with several exceptions
  • makes the 2017 income tax rate reductions permanent
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0 sats \ 7 replies \ @Undisciplined 12 May
So, nothing about reducing taxes because tariffs are being raised?
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39 sats \ 4 replies \ @Cje95 OP 12 May
Its over I think 350 pages lol there are parts that lower taxes including making the tax cuts permanent... there is something about the Childhood tax credit as well I mean there is a ton of shit tbh...
Tariffs are also already coming down. It would be pointless to even attempt to craft a deal when countries are striking trade deals with us.
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10 sats \ 3 replies \ @Undisciplined 12 May
I get it, but the tariffs were pitched as something that would be offset by tax cuts and would ultimately allow for eliminating the IRS.
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40 sats \ 2 replies \ @Cje95 OP 12 May
But I think it’s safe to say that the markets and people were uncomfortable with the tariffs once they saw them. Now that they are going away and in most cases never went into effect Trump is unlocking wins for the American people to cut the deficit which is the most critical thing to voters on both sides. That’s why you even see tax increases for the wealthy being floated and even added.
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10 sats \ 1 reply \ @Undisciplined 12 May
I don't think the markets would have freaked out so much, if the tariffs had come with the large income/payroll/corporate/capital gains tax cuts that had been discussed.
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24 sats \ 0 replies \ @Cje95 OP 12 May
So those had to originate in the House to even become a thing and since Trump said the tariff were for new deals it just killed the House Committees from starting the work ya know? Since he came out and said it the sheer amount of stuff that was going to have to be combed through and the fact that the bill was going to end up well over 1k pages to do that kinda… ya know why waste the time esp given our limited time window
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25 sats \ 1 reply \ @itsrealfake 12 May
c'mon maan.. that's gonna take at least until midterms election season
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40 sats \ 0 replies \ @Cje95 OP 12 May
I would say you’re right except like the NDAA the tax cuts expire and the only way to not destroy everyone is to get this through ASAP. The big question is do they have it done by August recess if we are picking target dates.
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0 sats \ 0 replies \ @Aardvark 12 May
Who eats that much salt? No wonder so many people are having heart attacks.
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