President Trump's Proposed Tax Bill

SOURCE www.breitbart.com
President Trump aims to pass a new bill extending his tax cuts, promoting energy development, and cutting spending. The bill would extend the 2017 Tax Cuts and Jobs Act, increase the SALT deduction, and make various changes to tax policies and programs like Medicaid and SNAP.

Key Points

  • Extension of Trump's 2017 Tax Cuts and Jobs Act
  • Increase in SALT deduction to $30,000
  • Changes to Medicaid eligibility verification and work requirements
  • Overhaul of SNAP program
  • Reduction of climate change and energy credits

Pros

  • Extension of tax cuts benefits average taxpayers and increases take-home pay
  • Changes to tax policies aim to reduce waste, fraud, and abuse in programs like Medicaid
  • Supports energy development and strategic petroleum reserves

Cons

  • Critics argue bill would increase the deficit by trillions of dollars
  • Some Republicans and conservatives believe the bill still needs work