Trump, tax bill and House Republicans
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The House votes in favor of "big beautiful bill." If bill passes Senate, some will see tax cuts and millions could lose Medicaid coverage.
23hon MSN
If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out over $500,000.
The House bill includes SALT cap increases, changes to Medicaid and SNAP and new rules to claim child tax credits.
The prohibition abruptly expanded to include adults hours before the House passed the bill, escalating the crackdown on transgender care once focused on children.
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 agreement marks a big win for SALT cap crusaders like Rep. Mike Lawler (R-NY) and others who have demanded the SALT cap be lifted as part of reconciliation.
President Trump's tax plan has sparked concern among investors, driving Treasury bond yields to a nearly two decade high, amid growing worries over U.S. debt.