Tax cuts and mass deportations: what to know about Trump’s ‘big, beautiful’ spending bill | US politics
Extending the tax discounts that were enacted during the first period of Trump
After taking office in 2017, Trump signed the tax cuts and jobs law, which reduced taxes and increased the record deduction of all taxpayers, and In general, he benefited from the owners of high observers More than most. The validity of these rulings is scheduled to end after this year, but the great beautiful bill makes it permanent, with the standard discount increased by $ 1,000 for individuals, 1500 dollars for heads of families and 2000 dollars for couples, albeit only until 2028.
A group of new tax deletions-but only while Trump is the president
The draft law creates many new tax exemptions, many of which stem from the promises that Trump made during its campaign last year. Tax motivations will be able to delete income from advice and additional work, and the benefits that are provided on loans for cars collected in the United States. People between the ages of 65 years or more qualified to obtain an additional discount of $ 4,000, provided that their total income does not exceed $ 75,000 for individual employees or $ 150,000 for couples. But all of these incentives end at the end of 2028, just before Trump as a president.
Expressing salt discount
In addition to paying federal taxes, residents of many states must pay state and local taxes (SAL). Before 2017, they can deduct these payments on their federal returns, but Trump’s tax law that year was crowned these discounts at $ 10,000, and the amount of taxpayers in high -scale majors such as New York, New Jersey and California often exceed. Republicans in the House of Representatives representing areas in those states spend weeks demanding an increase in the beautiful draft law that limits, and succeeded: the draft law approved by the House of Representatives raises the opponent to $ 40,000 a year.
Money for collective deportation and border wall
As part of the Trump plan to remove the uncomfortable immigrants from the country, the ICE and Customs application (ICE) will receive $ 45 billion for detention facilities, $ 14 billion for deportations and billions of dollars more than that on the border with the border along the border along the border. Immigrants who hope to claim suddenly or seeking relief will face through the immigration courts A set of new drawings The defenders say they may keep them out of the country completely.
Budget deficit is much higher
All of these tax exemptions and other spending come at a large cost. The incentive of non -partisan financial grades in Congress, the CBO budget office (CBO) estimates that the tax bill policies alone will add approximately 3.8 trillion to the federal deficit.
Possible strong restrictions on federal courts
Trump supporters Rotally attacking judges Whoever rules against him, and the draft law includes a ruling that prohibits federal courts for imposing contempt for temporary restrictions or initial orders. At least one federal judge It seems ready for the version Such a quotation in the issue of prominent immigration involves management. Erwin Chimurinski, Dean of the University of California, Faculty of Law at Berkeley, books Judges can circumvent the ruling on future cases, but hundreds of current court orders covering all types of subjects – including many lawsuits against Trump’s policies – will be implemented.
The transformation of social safety network programs
Republicans have tried to reduce the cost of the bill by reducing the main federal safety network programs: Medical aidWhich provides health care for poor and disabled Americans, and the supplementary nutritional assistance program (SNAP), which helps people tolerate groceries. Both are in the financing discounts on the bill, as well as new work requirements. According to an analysis of a similar policy, the Urban Institute believes that this can remove up to 5.2 million people from Medicaid, while the left transfer center on budget and policy priorities expects about a quarter of the Snap that may leave the program, or approximately 11 million people.
The most beneficial for the wealthy of the poor
The wealthy taxpayers seem ready to receive more benefits from this bill more than the poorest. The taxpayers who have the highest income in their household resources will witness 4 % in 2027 and 2 % in 2033, due to the extensive tax discounts, CBO estimated earlier this week. The poorest taxpayers will see that their resources decrease by 4 % in 2033, due largely to traditional benefits programs, according to the office.
End of green energy incentives in Biden
Draft It will overlap The tax incentives created by Congress during the chairmanship of Joe Biden aimed to encourage consumers and companies to use electric cars and other clean energy technology. Carrier credits will end this year and solar energy and solar energy incentives will be available only for projects that begin to construct 60 days of the enactment of the bill and enter the service by 2028. The credits of manufacturing tax in the field of clean energy will not be detailed by 2031, while Americans who seek to upgrade their homes to clean or more effective energy applications do not get more experience yet The end of this year.
Increase the roof of the debt
The authority of the United States government to borrow, known as the debt limit, will increase by 4 Americans. Earlier this month, US Treasury Secretary, Scott Payette, expected the government to reach the maximum by August, and at this point it can fail to pay its debts and raise a financial crisis.
