The House of Representatives passed Trump's bill on large-scale tax cuts by a majority of one vote. The bill envisages the extension of tax benefits signed by Trump in 2017, the creation of new tax benefits. UNN reports with reference to Reuters.
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The tax package of US President Donald Trump, which was discussed among Republicans until the last moment, overcame an important obstacle in Congress. On Thursday, May 22, the House of Representatives approved a bill proposed by US President Donald Trump, which provides for significant tax cuts. One vote was enough. With 215 votes "for" and 214 "against". The text now goes to the Senate.
Reference
The budget bill provides for the extension of the main tax cuts introduced during Trump's first presidential term.
At the same time, the law will expand tax benefits for businesses and individuals adopted in 2017. It will also abolish many incentives for green energy approved by former Democratic President Joe Biden. Among the promises is also the expansion of access to medical care and food programs for the poor. However, in order to compensate for the resulting budget deficit, it is planned to significantly reduce Medicaid health insurance and food assistance.
Republican supporters describe the budget plans as "one big beautiful bill." However, critics, among other things, warn that the planned tax cuts could become a heavy burden on the US deficit over the next ten years.
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