Tax Exemption, Beautiful Bill
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President Donald Trump’s “big, beautiful bill,” which he signed into law earlier this month, includes major wins for business interests that carried out aggressive lobbying campaigns on Capitol Hill to secure favorable treatment for their industries.
New York Gov. Kathy Hochul and other NY officials spoke in Kingston July 18 to condemn the impacts of the "big beautiful bill" on local residents.
As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).
An analysis by the Maryland Department of Health projects an annual loss of $2.7 billion because of changes to Medicaid.
While a budget surplus exists in Georgia, the impact of federal cuts remains unclear, prompting a cautious approach from Gov. Kemp.
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Republicans in the U.S. House are looking to take a victory lap in Las Vegas July 25 to tout the passage of President Donald Trump’s “Big Beautiful Bill” with a field hearing
Contrary to President Donald Trump’s claim that no one will die as a result of the Republican budget bill, an analysis from the University of Pennsylvania and Yale University estimated that the legislation’s changes to Medicaid and the Affordable Care Act will result in at least 42,