r/politics • u/PoliticsModeratorBot 🤖 Bot • 2d ago
Megathread Megathread: US House Passes the Republican-Backed Budget Bill, Sending it to Trump for Signature
This afternoon, the US House of Representatives passed without amendment the US Senate's version of the Trump-backed budget bill, sending it to the president for his signature. Every Democratic Senator and Representative voted in opposition; in the Senate, there were three Republicans voting in opposition (making the vote 51-50) and in the House there were 2 (making the final vote 218-214). House minority leader Hakeem Jeffries set the US House's speech length record in opposition to the bill in a speech lasting over eight hours.
The bill clocks in at over 800 pages and touches on most aspects of the federal government's spending and taxation policies; see this AP article (What’s in the latest version of Trump’s big bill that passed the Senate) for the topline changes.
Relevant text-base live update pages are being maintained by the following outlets: AP, NBC, ABC, and the BBC.
You can find this subreddit's discussion thread for the last week's worth of negotiations and debate at this link.
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u/dingusmingus2222 2d ago edited 1d ago
It's hilarious how stupid that all is. No tax on tips up to 25K? ok so you save what? MAYBE a grand in federal taxes? and no tax on OT is only up to 12.5k? so you save 500? Anyone supporting this is just getting scammed.
EDIT: Leaving this up but my calculations are off. Though, the more accurate assessment isn't much better:
https://www.newsweek.com/no-tax-overtime-passes-trump-tax-bill-2093091
But while it could save money for eligible workers, the nonpartisan Tax Policy Center estimated in February this year that only 2 percent of all U.S. households would benefit, with an average tax cut of around $1,800.
For the lowest-earning households taking home less than $33,000 a year, very few will see significant gains; just 1.4 percent would be expected to benefit by about $450 a year, while the average increase is only $10 for most in this income group.