The new tax invoice guided by Trump promises an American “golden age” that conveniently ends with its presidency | republican

The Republicans of the Congress passed a massive expenditure calculation on Thursday morning, which promised the “golden age”, Donald Trump for some taxpayers – but only when he is president.

The only big beautiful Bill Act, which was closely adopted with 215-214 voices, focuses on the permanent expansion of tax cuts that was issued during Trump's first term, and at the same time creates new deductions to offer his campaign promises, the working class and families relief.

But there is a catch: these deductions would not be available until 2028, which means that Trump will have expired its tax relief when his term in January 2029 ended. And in order to influence fiscal hardliners, the Republicans have filled the legislative template with cuts in the social security network programs that millions of poor and disabled Americans on the advantages they could depend on the advantages.

“This seems to be quite openly connected to the president's election cycle. I am not aware that this has happened before,” said Maya MacGuineas, President of the Committee for a responsible federal budget (CRFB), a non -partisan guards that focus on government editions.

The legislation now passes to the US Senate, where the legislator makes its own changes. Democrats have little influence on the measure that is produced as part of the budget reconciliation process, which enables it to be adopted with simple majorities in both chambers.

As currently written, the invoice is to add an oversized $ 3.4 $ 3.4, the most of which is due to the permanent extension of tax cuts that Trump signed in 2017. It would also enable taxpayers to write off overtime, tips and interest rates for loans for cars that are gathered in the USA, according to the Trump campaign promise.

The parents would see that the tax credit for children increases by 500 US dollars and the opportunity to open “Trump accounts” to save money to help their children will afford a house or school as soon as they are 18 years old, to which the government would cover 1,000 US dollars.

And while the legislation does not contain Trump's legislation to reduce taxes on social security payments, it offers a new deduction of 4,000 US dollars for taxpayers aged 65 or older.

But as soon as the year 2028 ends, these deductions and the government's deposits are also carried out in Trump accounts and the increased tax credit for children of children. At this point, poor Americans started to impose financing cuts and new demands on two of the government's largest anti-poverty programs.

In 2027, new work requirements for some recipients of Medicaid, the health program for poor and disabled Americans, would come into force. The Urban Institute Thintank, based on an analysis of a similar guideline, is of the opinion that it would cost their health insurance cover up to 5.2 million people, especially because of participants who do not understand the requirements or cannot prove their compliance.

People who rely on the supplemental Nutrition Assistance Program (SNAP) that contributes to the payment of food and other important basics would also be confronted with the requirements for work requirements from October 2027. The left-wing center for budget and political priorities estimates that those who would use about a quarter of SNAP recipients or almost 11 million people to lose their services.

“In order to do the mathematics work and satisfy all camps, they have put together a kind of structure in which Trump can be convinced that he will come into force these provisions during his term, the deficit -hawks and the expenses of Hawks can be assured that at least on paper these cuts will come, and then the boss for politics and interest in the collaborative thinking is now.

Despite the new deductions, the impartial congress office (CBO) estimated that the rich will benefit the most from the law. Taxpayers with the highest income will increase by four percent and two percent in 2033 in 2027, which is particularly due to the extended tax cuts. The poorest taxpayers would see that their resources have dropped by four percent in 2033, which is mainly due to the reduced performance programs, forecast the CBO forecast.

MacGuineas warned that the temporary deductions in combination with the delayed start of the expenses will create a “fiscal cliff” for a future congress and a future president who is exposed to stopping or further delaying a politically poisonous guideline combination.

“You could have a big showdown in 2028, 2029 about what to expand how to pay for it if you do this if you have to delay the offset. And that could be a very ugly fiscal picture overall,” she said.

The cancellation of the expenses and compliance with the new deductions would cost $ 4.8 m $, the CRFB forecasts -more than the government, which reacted to the Covid pandemic.