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Archive for the tag “no taxes on Social Security”

House Passes ‘Big, Beautiful Bill’

The U.S. House has narrowly approved President Donald Trump’s “big, beautiful bill” on a vote of 215-214. It now goes to the Senate where revisions are not only possible, but likely.

Key components of the bill: Tax cuts for the middle class, plus removal of taxes on tips and reductions in the tax on Social Security.  President Donald Trump personally lobbied for approval of the bill and blasted a couple of the holdout Republicans, saying they should leave the party if all they wanted to do was “grandstand.”

The bill does firm up completion of the southern border wall, and also eliminates many of the steps that leftists had taken to put medicaid and tax dollars in the hands of illegal aliens. Here’s more from Matt Morse TV.

 

Trump’s Plan To Eliminate Taxes

Howard Lutnick, the Commerce Secretary under President Donald Trump, says the administration is working on a clearcut plan that would abolish all federal taxes on income of less than $150,000 annually.

This would not only include earnings, but also tips and Social Security. Roughly 93 percent of all Americans earn less than the $150,000 cutoff, so federal taxes would disappear for these residents.

The goal is to make up for these losses by raising new monies through tariffs on imports. In essence, those shipping goods into the United States would pay for the privilege.

It’s not clear yet if this goal can be achieved, or how quickly it can be implemented.  Here’s more from Dave Rubin on The Rubin Report, sharing a clip of Lutnick outlining the plan to CBS News Host Nancy Cordes.

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