House Republicans didn’t spend Friday night on the dancefloor; instead they released portions of their tax measures that they have been working on for months to further Donald Trump’s agenda and present him with his desired “big, beautiful bill.”
Trump has said all along that he wants to make his 2017 tax cuts permanent, and that’s what they’re striving toward:
The legislation includes an increased child tax credit (CTC), a higher threshold for estate tax liability – what Republicans have referred to as the “death tax” – and several other measures.
It also lays the groundwork for making Trump’s 2017 Tax Cuts and Jobs Act (TCJA) permanent. Republican leaders had warned that failing to do so would lead to a tax increase of over 20% for millions of Americans, if TCJA were allowed to expire at the end of this year.
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