The Republicans issue early plans for the expansion and expansion of Trump tax cuts

The Republicans of the House introduced the first pieces of around 4 trillion dollars on Friday evening, which they passed in the coming weeks, and outlined plans that will set up important planks from President Trump's tax cut for 2017 and at the same time offer even more generous tax benefits for the next few years.

In the late daily laws, the Republicans made it clear that they intended to include the larger standard deduction, the lower individual income tax rates and other measures that they passed in 2017. These provisions will expire by the end of this year, and the Republicans have initiated a large part of their energy on the capitol hill of the expansion.

However, they also signaled that they wanted to take over some of the 2017 tax cuts and wanted to create a number of temporary extensions for Mr. Trump's second term. The invoice suggests adding the size of the standard deduction for individuals of $ 1,000 -every year until 2029 to $ 15,000, with a greater increase for married Americans larger. The tax credit for children would suffer a similar temporary increase of 2,500 US dollars of 2,000 US dollars for the next four years.

What the Republicans of the house spend on Friday is a first part of the legislation. It is not about a variety of important topics, including the upper limit for state and local tax deductions of $ 10,000, Mr. Trump's campaign, some forms of income of taxes, cleaning tax credits and more to be excluded. The increase in the tax rate for income of over 2.5 million US dollars, an idea with which Mr. Trump played in the past few days is also not in the legislation published on Friday.

The Republicans from House are expected to take these thorny topics in the coming days, probably on Monday, more detail before they consider the draft law in the way in relation to the way in relation to the way. Many of the tax cuts published on Friday will most likely attract broad support from Republicans. This includes increasing a deduction that is available to many business owners, as well as increasing the threshold for paying the estate tax.

The representative Jason Smith, the Republican of Missouri, the chairman of the Ways and Means Committee, said in a statement that the legislation “creates jobs, wages and investments and contribute to doing a new golden age of prosperity”.