Cnn
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The House Republicans unveiled one of President Donald Trump’s most critical elements on Monday on Monday domestic agenda: How he plans to spend billions of dollars on tax reductions.
The long -awaited tax plans include some of Trump’s major campaign promises, including the abolition of federal taxes on the advice, overtime and the interests of car loans. It is a great victory for Trump, as is the name of the bill – “the only, great and beautiful bill”, adopting the nickname of the president for the legislation.
As expected, it also includes Trump’s demand for an increase in debt limits, which would cost a total of 4 dollars of dollars to kick the problem for a few years. Congress must increase the limit of debt Before his August recreation to avoid the defect And Trump hopes to do so using this bill, rather than concluding an agreement with the Democrats.
The bill includes dozens of Trump 2017 tax invoice tax extensions. There is also a relatively new idea – a so -called “Maga” savings account for children under the age of 18. It is abbreviated as “the money account for growth and progress” and would create a new type of tax savings account for children.
A headache in the GOP, it does not solve: the battle on state taxes and local. The tax bill of the Républicains of the Chamber would triple the current ceiling on state taxes and premises, from $ 10,000 to $ 30,000 per year, but is limited to people who earn $ 400,000.
Republicans of high tax states, such as New York, New Jersey and California, have already rejected this publicly and private policy, although it is not clear how much lever they have to change it before the final bill. Some of these GOP legislators have asked for a ceiling as important as $ 60,000 in private.
Moderates within the GOP quickly criticized the proposed republican tax plan published on Monday because of its provisions on salt.
The far -right flank has also appeared far from being sold.
“I remain open -minded because progress has been made according to our energetic efforts to force the change. But we cannot continue on the path we have followed – and we will need significant additional changes to obtain my support,” wrote the Chip Roy representative of Texas on X.
Describing a long list of concerns, Roy wrote: “Does the bill reduced the deficit significantly? .. Does the bill offer transformative changes to Medicaid or otherwise?
The Republicans of New York, whose representatives, Elise Stefanik, Mike Lawler, Andrew Garbarino and Nick Lalota had already declared last week that a saline ceiling of $ 30,000 was too low to win their support.
Pressed last week on a ceiling project of $ 30,000, Lalota said “Hell No” which was not acceptable.
Responding Monday on X after seeing the proposed text, he said: “Always hell no.”
Manu Raju, Lauren Fox and Morgan Rimmer of CNN contributed to this report.