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Trump's 'large, beautiful' expenditure calculation, from tax cuts to mass shifts | US policy

Trump's 'large, beautiful' expenditure calculation, from tax cuts to mass shifts | US policy

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Expand the tax cuts issued during Trump's first term

After taking office in 2017, Trump signed the law on tax cuts and jobs that reduced taxes and increased the standard deduction for all taxpayers and generally benefited more than most. These provisions will take place after this year, but the big beautiful calculation makes them permanently and at the same time increases the standard deduction by $ 1,000 for individuals, $ 1,500 for households and 2,000 US dollars for married couples, if only until 2028.

A number of new tax depreciation-but only while Trump is president

The legislative template creates many new tax exemptions, some of which are due to Trump's promises, while it was collected in the campaign last year. Taxpayers can copy income from tips and overtime, and interest rates for loans for cars that have been gathered in the USA. People aged 65 and over have an additional deduction of $ 4,000, provided that adjusted gross income exceeds $ 75,000 for single files or $ 150,000 for married couples. But all of these incentives ended in the late 2028, shortly before Trump's term of office, when President ends.

An extended salt deduction

In addition to the payment of federal taxes, the residents of many countries also have to pay state and local taxes (salt). Before 2017, they were able to deduct these payments for their federal returns, but the tax law that Trump signed this year limited these deductions to 10,000 US dollars, an amount that taxpayers in states often exceed with high salt loads such as New York, New Jersey and California. House Republicans who represent districts in these countries called for weeks to demand the large, beautiful bill, and was successfully carried out: The invoice approved by the house increases the deduction to $ 40,000 per year.

Money for mass shifts and a border wall

As part of Trump's plan to remove immigrants without papers from the country, the immigration and customs authority (ICE) will receive $ 45 billion for adhesion for adhesion for deportation operations and billions of dollars more to hire additional 10,000 new agents by 2029. By 2029. More than 50 billion US dollars are assigned. And immigrants who hope to claim asylum or to recover in any other way by immigration courts will be exposed to a large number of new fees, from which the supporters claim that they could keep them out of the country as a whole.

A much higher budget deficit

All of these tax reliefs and other expenses are great costs. The impartial financial launcher of the congress, the congressional budget office (CBO), only estimates the tax policy of the legislation, which the federal deficit almost 3.8 MT.

A potentially strong restriction of the federal courts

Trump's supporters routinely attack judges who prevailed against him, and the draft law contains a provision that prohibits federal courts in connection with temporary starting arrangements or preliminary attempts. At least one federal judge seems to be ready to give such a quote in a top -class immigration case with the administration. Erwin Cheminersky, the Dean of the University of California, the School of Law from Berkeley, wrote that the judges could circumvent the provision for future cases, but hundreds of existing court orders that cover all possible subjects – including the many complaints against Trump's politics – would not be overwhelming.

Transformed net programs for social security

The Republicans have tried to reduce the costs of the legislation by making two important programs for the federal safety net: Medicaid, which offers the poor and disabled Americans, health care, and the Supplemental Nutrition Assistance Program (SNAP), which helps people afford food. Both are for financing cuts and new work requirements. The Urban Institute Thintank believes that due to an analysis of a similar guideline, they could remove up to 5.2 million people from Medicaid, while the left-wing center for budget and guideline priorities predicts about a quarter of the SNAP recipients that could leave the program or almost 11 million people.

More advantages for the rich than the poor

Wealthy taxpayers seem to receive more advantages from this calculation than poorer. Taxpayers with the highest income will increase their budget resources by 4% and 2033 by 2% in 2027, which is primarily due to extended tax cuts, and the CBO estimated at the beginning of this week. The poorest taxpayers would see that their resources drop by 4% in 2033, which, according to the office, is primarily due to the reduced performance programs.

The end of bidens incentives for green energy

The legal template will carry out tax incentives created by the Congress during Joe Biden's presidency to encourage consumers and companies to use electric cars and other clean energy technology. The credits for cleaner cars will end up this year, and incentives for wind and solar energy will only be available for projects that will start 60 days after the legal template came into force and will be put into service by 2028. Clean Energy Manufacturing Tax Cutting will be enlarged until 2031, while the Americans who want to bring their houses up to date on cleaning agents or more energy -efficient devices after the end of the year without further deschiveness.

An increased debt limit

The US government's authority, loans, known as a debt limit, is increased by $ 4. At the beginning of this month, the US Finance Minister Scott Bessent predicted that the government would reach the border by August. At that time, she was able to get her debts in arrears and trigger a financial crisis.

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