Senate Passes Trump’s ‘Beautiful’ Bill After Holdout Supplies Critical Vote

[Hol]

The Senate approved President Donald Trump’s landmark bill largely along party lines Tuesday morning after senators took dozens of votes on amendments and procedural motions in a marathon session that lasted more than 24 hours.

Senators voted 51 to 50 with Republican Sens. Thom Tillis of North Carolina, Rand Paul of Kentucky and Susan Collins of Maine opposing the president’s sweeping domestic policy legislation. The bill’s passage is a massive victory for Senate GOP leadership who were able to keep defections to a minimum and convince one holdout, Republican Alaska Sen. Lisa Murkowski, to supply a critical vote to pass the president’s tax and immigration bill.

Senate Passes Trump’s ‘Beautiful’ Bill After Holdout Supplies Critical Vote

The Senate approved President Donald Trump's landmark bill largely along party lines Tuesday morning.

dailycaller.com

 

[Kem]

I was praying about that bill for several days and hoped it would pass but always ended my prayer with "You know much better than I do for sure so I really want Your will to be done".

 

[Hol]

House Republicans advance Trump’s ‘Big Beautiful Bill’ to a final vote​

Republicans in the House of Representatives advanced President Trump’s One Big Beautiful Bill toward a final yes-or-no vote early Thursday, appearing to overcome internal party divisions over its cost.

Following a day of closed-door meetings on Capitol Hill and at the White House, lawmakers cleared a final procedural hurdle needed to begin debate on the bill in a 219-213 vote around 3:30 a.m.

Lawmakers then reopened debate for a final vote that was expected around 5:30 a.m.

House Republicans advance Trump’s ‘Big Beautiful Bill’ to a final vote

The House voted 219-213 to move forward.

nypost.com

 

[Tall Timbers]

Trump’s big bill just passed the House. Here are the winners and losers as it goes to his desk.​

There are major changes coming for Americans’ finances, after the House of Representatives passed a landmark tax and spending bill at the center of President Donald Trump’s domestic agenda.

House Republicans passed the legislation Thursday in a 218-214 vote along party lines. The Senate passed it in a 51-50 vote two days earlier. Trump’s signature is the last thing needed to usher in the changes that many people will start seeing early next year.

The bill is permanently etching lower income-tax rates into the tax code and averting a widespread 2026 tax hike, when the 2017 tax cuts from Trump’s first term were supposed to expire.

MSN

There's so much misinformation about this bill that is about to become law that I have no idea what's in it. My tax bill has been up in recent years... I don't know if that'll go down a bit or stay the same. When I look at income tax brackets it seems to me like we've been slowly creeping higher, and given the govmint's fake inflation numbers, income earners probably find themselves in the higher tax brackets although they might not be in a better place financially due to the very high inflation we've experienced in recent years. It's a fairly large bill, 760 pages, so I've not doubt that it is full of pork just like just about every bill that our corrupt Congress passes.

One thing we can bank on is if the govmint continues to increase the country's debt, inflation will continue as the value of the dollar will weaken. I think Trump's goal is to grow us out of the fiscal mess we're in... hope that works as well as he thinks it will.

This article discusses some of the things that are in the bill, but it is also written somewhat disingenuously so I would advise not judging based on this article. It's unfortunate that some of the tax cut provisions expire at around the end to Trump's term...

 

[Andy C]

What a huge effort by the Senate Majority leader, Speaker of the House, and also Trump for staying up all night convincing those undecided House members to vote for his One Big Beautiful Bill.

 

[Tall Timbers]

What I think this bill turned law will do is fund and allow Trump to pursue his policies, which he was held back from doing during his entire first term. In that respect it is a great victory. It took our very corrupt Congress half a year to give Trump his bill, but I guess that's better than never delivering.

 

[Cheeky200386]

I read Seniors will either no longer pay or will see a huge drop in taxes on Social Security. That’s wonderful if true. Social Security should not be taxed in my opinion.

 

[Tall Timbers]

I read Seniors will either no longer pay or see a huge drop in taxes on Social Security. That’s wonderful if true. Social Security should not be taxed in my opinion.

For some reason Congress wouldn't stop taxing SS. Over 65ers will receive an additional standard deduction of $6000 but that won't offset most of the SS taxes, even though the govmint is painting a picture that looks better than the reality.

Additionally, most if not all of the new tax cuts expire around the end of Trump's term. So the no tax on tips and overtime is just a temporary deal.

 

[Cheeky200386]

For some reason Congress wouldn't stop taxing SS. Over 65ers will receive an additional standard deduction of $6000 but that won't offset most of the SS taxes, even though the govmint is painting a picture that looks better than the reality.

Additionally, most if not all of the new tax cuts expire around the end of Trump's term. So the no tax on tips and overtime is just a temporary deal.

Just a whole lot of hoopla for nothing then.

 

[Tall Timbers]

Just a whole lot of hoopla for nothing then.

I think the largest tax cut in history may have been when Reagan was in office. During Trump's first term, when the taxes were fiddled with, I suspected my taxes were going to go up a bit. They ended up going down by just a tiny bit. I don't even remember the govmint fiddling with taxes during diben's term, but we're paying about 15% higher taxes lately. Maybe some tax benefit expired or inflation pushed us into a higher bracket, I don't know, but I think I'm paying a higher percentage of our income in taxes than I ever previously have in my life.

There is a lot of hoopla over this bill that I don't think is merited, at least with regards to taxes. The parts that will allow Trump to do a lot of the things he wants to do should be good for America. I do have one interesting thought, if Trump plans to grow us out of our debt crisis, we're going to need a lot more younger workers which means we'll need to import a lot of new young working age immigrants on a citizenship path. That won't wait for the deportation of millions of illegals, it would need to happen concurrently, otherwise the hoped for growth will fizzle out. The world is growing old as birth rates are down in most places. Old folks eventually age past their working years. The USA is one place that millions upon millions of potentially productive people would like to immigrate to. The USA needs to plan on how many are needed and start making it easier for them to come here, without, of course, replacing current American workers in their productive years. They should be immigrants on a path to citizenship, not temporary workers who can replace others for lower pay.

 

[Andy C]

For some reason Congress wouldn't stop taxing SS. Over 65ers will receive an additional standard deduction of $6000 but that won't offset most of the SS taxes, even though the govmint is painting a picture that looks better than the reality.

Additionally, most if not all of the new tax cuts expire around the end of Trump's term. So the no tax on tips and overtime is just a temporary deal.

Even before this bill, approximately 45 percent of all social security recipients don’t pay any federal tax on their benefits. So the new tax rules won’t help those who already don’t pay a tax, but will help middle income earners via a tax reduction, based on their total amount of all income.

 

[Tall Timbers]

Even before this bill, approximately 45 percent of all social security recipients don’t pay any federal tax on their benefits. So the new tax rules won’t help those who already don’t pay a tax, but will help middle income earners via a tax reduction, based on their total amount of all income.

The bar is really low for when the tax on SS starts. Most of that 45% are probably living in poverty even if they own a home outright. It'll certainly help some for those who are at the lower end of income levels but still have their SS taxed. It's really not much, but any amount of lower tax is gonna help some.

 

[Hol]

There are a few fixes for entitlements, now able body folks on Medicaid (or is it Medicare?) will need to get to work. Unfortunately the dems stopped the better entitlement cut to remove illegals from Medicaid to some extent. (But I've also heard the opposite.)

I think maybe the tax cuts are going to help businesses most??

It seems primarily beneficial to ICE & the Iron Dome system for the US.

 

[Andy C]

The bar is really low for when the tax on SS starts. Most of that 45% are probably living in poverty even if they own a home outright. It'll certainly help some for those who are at the lower end of income levels but still have their SS taxed. It's really not much, but any amount of lower tax is gonna help some.

Yes, mainly the tax free SS entitlements are for those whose only income in retirement is social security.

 

[Tall Timbers]

There are a few fixes for entitlements, now able body folks on Medicaid (or is it Medicare?) will need to get to work. Unfortunately the dems stopped the better entitlement cut to remove illegals from Medicaid to some extent. (But I've also heard the opposite.)

I think maybe the tax cuts are going to help businesses most??

It seems primarily beneficial to ICE & the Iron Dome system for the US.

Yeah, I've heard cutting illegals out of Medicaid is both out and back in. Either way it is a criminal act to aid or abet criminal illegals, so whenever one needs care, the authorities should be advised. It would be nice to get a definitive statement on whether or not illegals can still get care under medicaid.

Medicare is a paid for insurance program. Medicaid is an entitlement.

Hopefully we'll learn more about what is actually in this big beautiful bill/law.

 

[Tall Timbers]

Yes, mainly the tax free SS entitlements are for those whose only income in retirement is social security.

Since 1983. President Reagan actually signed the bill taxing Social Security .

 

[mattfivefour]

The biggest tax benefit I've seen is the elimination of the HUGE tax increase that was due next year.

 

[Baby Yoda]

I see changes coming in mortgage qualifications -- those who earn tips and rely on OT will be able to qualify for slightly more mortgage money.

 

[Cheeky200386]

I think the largest tax cut in history may have been when Reagan was in office. During Trump's first term, when the taxes were fiddled with, I suspected my taxes were going to go up a bit. They ended up going down by just a tiny bit. I don't even remember the govmint fiddling with taxes during diben's term, but we're paying about 15% higher taxes lately. Maybe some tax benefit expired or inflation pushed us into a higher bracket, I don't know, but I think I'm paying a higher percentage of our income in taxes than I ever previously have in my life.

There is a lot of hoopla over this bill that I don't think is merited, at least with regards to taxes. The parts that will allow Trump to do a lot of the things he wants to do should be good for America. I do have one interesting thought, if Trump plans to grow us out of our debt crisis, we're going to need a lot more younger workers which means we'll need to import a lot of new young working age immigrants on a citizenship path. That won't wait for the deportation of millions of illegals, it would need to happen concurrently, otherwise the hoped for growth will fizzle out. The world is growing old as birth rates are down in most places. Old folks eventually age past their working years. The USA is one place that millions upon millions of potentially productive people would like to immigrate to. The USA needs to plan on how many are needed and start making it easier for them to come here, without, of course, replacing current American workers in their productive years. They should be immigrants on a path to citizenship, not temporary workers who can replace others for lower pay.

I hope some good will come of this Bill. You bring up good points about the aging of our population. Bringing in immigrants the legal way would be one way of helping. Hopefully bringing more processing Christians.

 

[Margery]

Looking at it from outside the country, it seems that President Trump is aiming to help the middle and low income earners the most, eliminating the grifters like the illegals, and aims to grow the economy.

In short reducing taxes like Reagan did, which WORKED. Growing the economy is a noble goal, and as Reagan pointed out "a rising tide floats all boats". He was right. The more money the lower and middle income people have, the more they can use for discretionary spending which benefits the economy.

This is so backwards from the Dem's usual critique of Republicans- tax cuts for the rich, at the expense of the poor and the middle income earners. This is the opposite. Trump is eating their lunch! They like to tax everyone and scream loudly about taxing the rich, but actually tax everyone more. Which reduces everyone's spendable income.

This bill does rely on a lot of debt, that part is scary from a standard economics point of view and wasn't a part of Reagan's economics plan, but if Trump's gamble works like Reagan's did, cutting taxes and Trumps DOGE plan should let people buy more, and benefit the entire economy.

There are other factors that Reagan wasn't dealing with but here's hoping! Reagan approached the debt crisis of his day by cutting taxes, lowering the debt AND govt waste.

Fired all the Air Traffic Controllers in one day- there was a lot of screaming that time about the sky is falling, planes are falling, we are all doomed-- but shortly after that the air traffic snarls cleared up, the economy started going in the right direction, the debt started shrinking and the Dems went into a 20 year decline that only Bill Clinton pulled them out of. Bush Sr wasn't as committed to lower spending lower taxes- he had the Gulf War to deal with but he wasn't too bad in keeping the Reagan legacy going, but the Clinton years were a turning point. Clinton did try but he was no Reagan, and he was a leftist.