Senate Republicans Unveil Updated Tax Cuts and Debt Ceiling Proposal

Reported about 16 hours ago

Senate Republicans have introduced a revised tax cuts and debt ceiling bill that aims to provide significant tax reductions for households and businesses, while also proposing cuts to Medicaid and clean energy tax credits. The legislation preserves previous tax cuts from President Trump's first term and includes new tax breaks; however, it faces criticism and division among Republicans regarding the extent of Medicaid cuts. With a deadline approaching for approval, the Senate plans to vote on the bill next week, seeking to align with the House's measures while addressing contentious issues like state and local tax deductions.

Source: YAHOO

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