From The National Office::
“The tax discounts proposed by President Trump, encapsulated in” One, Big, Beautiful Bill “, aim to extend the pro-corporate inheritance and pro-traveler from the 2017 law on tax reductions and jobs (TCJA), said the White House exclusively to the National News Desk.
The TCJA has previously reduced taxes to all levels for workers’ families, allowing Americans to allocate their income to family, community and future income.
This initiative, as well as the fiscal provisions of companies, stimulated a boom in blue passes characterized by record income gains, record poverty and significant salary increases, in particular for low wages, according to the White House. (…)
According to the White House, the “ Big, Big, beautiful Bill ”, seeks to continue this growth by creating incentives to extend the American interior manufacturing base and provide targeted relief to workers affected by high inflation and sectoral cuts.
Some of the main provisions provided by the Trump administration include elimination of taxes on advice and overtime, allowing workers to save around $ 1,675 and up to $ 1,750 per year.
The bill also offers temporary full expenses for new factories and a decrease in tax rates on interior manufacturing in order to improve the industrial basis and stimulate economic opportunities.
According to the White House, improved incentives in the opportunity area should generate more than $ 100 billion in investment, create more than a million new jobs and lead to the development of hundreds of thousands of new houses in distress communities, especially in rural areas.
The joint tax committee indicated that the drop in the percentage of federal taxes is lower for the higher 1% under the bill, which allowed them to take a larger share of total federal taxes.
The White House says that if the bill does not reach, it could lead to an increase in taxes of $ 4 billions, which could lead to challenges of recession. »»
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Click here to read the report of the Council of Economic Advisors.
