A new draft law was passed from the Republican Party on Thursday, and Americans could provide some money in the coming years.
Many aspects of legislation, including those that involve social security, can lead to thousands for some.
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President Donald Trump promised the “golden age” to the Americans during his presidency, and the law of the beautiful major law is part of that vision.
Voices were from 215 to 214 to obtain a draft spending law through the House of Representatives, and it will now go to the Senate, where changes are expected, for the entire guardian.
The main point in the bill is to permanently expand the tax cuts that Trump signed in 2017.
These discounts included low income tax rates, a standard discount, expansion of child tax, personal exemptions, local tax deduction cover, limited discount of mortgage benefit, and individual delegation penalty.
Read more about social security
Companies have also seen discounts in corporate tax rate, regional tax system, business discounts, full expenses, and restrictions on discounts.
Some discounts are part of the Trump administration's promise to help the working class families.
They can provide the chosen Americans between $ 1,000 and 4000 dollars.
Savings collapse
The child's tax credit (CTC) that can be chosen by qualified taxpayers increases when their annual returns are offered an increase of $ 500 by the bill.
In addition, parents will be granted the option to open Trump accounts to start saving money for their child's home or teaching him after reaching the age of 18.
Once a lifetime is injured, the government will contribute to $ 1,000.
With social security, some elderly people can save money.
There is a new discount of $ 4,000 for those who qualify in 65 years or older under a beautiful beautiful bill.
Except, there is only one problem with the advantages of saving money.
They do not extend through Trump's presidency.
Trump's main policy points
Donald Trump closed the Republican National Congress on July 18, and the supporters told that he wanted to become president of “all Americans.
- Implementing tax cuts, including no tax on tips.
- Social security and medical care – Trump said: “The income will increase and the middle class will flourish as it has not happened before.”
- Border Protection – pledged to end the “nightmare of the border”. This means two things on the first day – “children's drilling exercises”, as he said, and closed the limits.
- Finishing the wall construction.
- Preserving “sons and daughters safe”.
- Renewing the army and building a military “dome” – Trump insisted that he could stop wars with a phone call only and said that the army would not be able to penetrate the United States if he came to office.
- Ending the war in Ukraine and imposing definitions on Iran.
- Pledge to “overcome” China.
- Work to reduce prices and reduce inflation.
- Reducing energy cost.
- Make the cities “safe, clean and beautiful” again.
- It allows Americans to buy cars run by gas by ending the authorization of electric vehicles on the first day of its presidency.
Therefore, as soon as the year 2028 ends and his term ends in January 2029, the validity of the tax exemption will end.
Government deposits in Trump accounts will also not be more than $ 500 in CTC.
Work requirements
There are also many possible negative aspects that Democrats argue.
A specific point of disagreement is the work requirements that will occur in the year 2027 for the specific Medicaid received.
According to the Urban Institute, a research tank that tends to the left, the requirements can lead to the loss of about 5.2 million Americans to cover health insurance due to misunderstanding or their inability to prove their working hours.
Work requirements will also be applied for those who need the advantages of supplementary nutritional assistance program (SNAP), which helps to pay the price of groceries and basic items.
About 11 million Americans can lose the last of these benefits, according to the urban institute research.
Wealth helps
The Non -Partisory Congress Budget Office (CBO) also issued an estimate that the wealthy Americans often will benefit from a beautiful beautiful bill.
According to CBO, those who have a higher income will witness a 4 % increase in resources in 2027 and 2 % in 2023 of tax cuts.
Americans who suffer from financial hardship will have a resource decrease by about 4 % when 2033 rotates.
However, some taxpayers also get direct payments.
The population in a major state will receive $ 1,000 this summer as part of a huge discount program.
Others can obtain monthly checks worth $ 500 for two years, depending on whether they meet certain criteria.
