House Republicans, bill and Tax cut
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The poorest fifth of Americans would receive 1 percent of the House reconciliation bill's net tax cuts in 2026 while the richest fifth of Americans would receive two-thirds of the tax cuts. The richest 5 percent alone would receive a little less than half of the net tax cuts that year.
The House bill includes SALT cap increases, changes to Medicaid and SNAP and new rules to claim child tax credits.
The spending bill passed by the U.S. House increases a tax the richest private universities pay on their endowment investment gains, a move proponents say reins in "woke" schools but that critics say will wind up hurting the poorest students the most.
The decidedly unsexy bond market is usually pretty quiet. But when they want to, bond investors can send a loud, clear message to Washington. They did just that Wednesday and Thursday.
The GOP-controlled House of Representatives on Thursday morning narrowly passed a massive domestic policy package, a major victory for President Donald Trump and Speaker Mike Johnson, R-La., after after weeks of heated negotiations within the GOP.