What’s in Trump’s big bill that passed Congress and will soon become law

WASHINGTON AP Republicans muscled President Donald Trump s tax and spending cut bill through the House on Thursday the final step necessary to get the bill to his desk by the GOP s self-imposed deadline of July th At nearly pages the bill is a sprawling collection of tax breaks spending cuts and other Republican priorities including new money for national defense and deportations Democrats united against the regulation but were powerless to stop it as long as Republicans stayed united The Senate passed the bill with Vice President JD Vance casting the tiebreaking vote The House passed an earlier iteration of the bill in May with just one vote to spare It passed the final version - Here s the latest on what s in the bill Tax cuts are the priority Republicans say the bill is crucial because there would be a massive tax increase after December when tax breaks from Trump s first term expire The law contains about trillion in tax cuts The existing tax rates and brackets would become permanent under the bill solidifying the tax cuts approved in Trump s first term It temporarily would add new tax deductions on tip overtime and auto loans There s also a deduction for older adults who earn no more than a year a nod to his pledge to end taxes on Social Shield benefits It would boost the child tax credit to Millions of families at lower income levels would not get the full credit A cap on state and local deductions called SALT would quadruple to for five years It s a provision central to New York and other high tax states though the House yearned it to last for years There are scores of business-related tax cuts including allowing businesses to promptly write off of the cost of equipment and research Proponents say this will boost economic development The wealthiest households would see a increase from the ordinance and the bill would cost the poorest people a year mainly due to reductions in Medicaid and food aid according to the nonpartisan Congressional Budget Office analysis of the House s version Money for deportations a demarcation wall and the Golden Dome The bill would provide various billion for Trump s confines and national measure agenda including for the U S -Mexico confines wall and for migrant detention facility beds as he aims to fulfill his promise of the largest mass deportation operation in U S history Money would go for hiring new Immigration and Customs Enforcement officers with signing bonuses and a surge of Margin Patrol officers as well The goal is to deport specific million people per year To help pay for it immigrants would face various new fees including when seeking asylum protections For the Pentagon the bill would provide billions for ship building munitions systems and quality of life measures for servicemen and women as well as billion for the advance of the Golden Dome missile defense system The Defense Department would have billion for dividing line defense How to pay for it Cuts to Medicaid and other programs To help partly offset the lost tax revenue and new spending Republicans aim to cut back on Medicaid and food assistance for people below the poverty line Republicans argue they are trying to rightsize the safety net programs for the population they were initially designed to serve mainly pregnant women the disabled and children and root out what they describe as waste fraud and abuse The package includes new -hour-a-month work requirements for a great number of adults receiving Medicaid and food stamps including older people up to age Parents of children and older would have to meet the plan s work requirements There s also a proposed new co-payment that can be charged to patients using Medicaid services More than million people rely on Medicaid which expanded under Obama s Affordable Care Act and million use the Supplemental Nutrition Assistance Plan The majority already work according to analysts The Congressional Budget Office estimates that million more Americans would become uninsured by if the bill became law and million more would not qualify for food stamps also known as SNAP benefits Republicans are looking to have states pick up specific of the cost for SNAP benefits At this time the federal cabinet funds all benefit costs Under the bill states beginning in will be required to contribute a set percentage of those costs if their payment error rate exceeds Payment errors include both underpayments and overpayments But the Senate bill temporarily delays the start date of that cost-sharing for states with the highest SNAP error rates Alaska has the highest error rate in the nation at nearly according to Department of Agriculture details Sen Lisa Murkowski R-Alaska had fought for the exception She was a decisive vote in getting the bill through the Senate A death sentence for clean vigor Republicans are proposing to dramatically roll back tax breaks designed to boost clean capacity projects fueled by renewable sources such as capacity and wind The tax breaks were a central component of President Joe Biden s landmark bill focused on addressing circumstances change and lowering medical care costs Democratic Oregon Sen Ron Wyden went so far as to call the GOP provisions a death sentence for America s wind and solar industries and an inevitable hike in utility bills A tax break for people who buy new or used electric vehicles would expire on Sept of this year instead of at the end of under current law Meanwhile a tax credit for the production of critical materials will be expanded to include metallurgical coal used in steelmaking Trump savings accounts and so so much more A number of extra provisions reflect other GOP priorities The bill creates a new children s savings venture called Trump Accounts with a feasible deposit from the Treasury The Senate provided million to establish Trump s long-sought National Garden of American Heroes There s a new excise tax on university endowments and a new tax on remittances or transfers of money that people in the U S send abroad The tax is equal to of the transfer A tax on gun silencers and short-barreled rifles and shotguns was eliminated One provision bars for one year Medicaid payments to family planning providers that provide abortions namely Planned Parenthood Another section expands the Radiation Exposure Compensation Act a hard-fought provision from GOP Sen Josh Hawley of Missouri for those impacted by nuclear advance and testing Billions would go for the Artemis moon mission and for the exploration of Mars while million is earmarked for a pandemic response accountability committee Additionally a provision would increase the nation s debt limit by trillion to allow continued borrowing to pay already accrued bills Last-minute changes The Senate overwhelmingly revolted against a proposal meant to deter states from regulating artificial intelligence Republican governors across the country solicited for the moratorium to be removed and the Senate voted to do so with a resounding - vote A provision was thrown in at the final hours that will provide billion annually to rural hospitals for five years or billion in total The Senate bill had originally provided billion for the activity but that number was upped to win over holdout GOP senators and a coalition of House Republicans warning that reduced Medicaid provider taxes would hurt rural hospitals The amended bill also stripped out a new tax on wind and solar projects that use a certain percentage of components from China What s the final cost Altogether the Congressional Budget Office projects that the bill would increase federal deficits over the next years by nearly trillion from to Or not depending on how one does the math Senate Republicans are proposing a unique strategy of not counting the existing tax breaks as a new cost because those breaks are already current strategy Republican senators say the Senate Budget Committee chairman has the authority to set the baseline for the preferred approach Under the alternative Senate GOP view the bill would reduce deficits by almost half a trillion dollars over the coming decade the CBO mentioned Democrats say this is magic math that obscures the true costs of the tax breaks Selected nonpartisan groups worried about the country s fiscal trajectory are siding with Democrats in that regard The Committee for a Responsible Federal Budget says Senate Republicans were employing an accounting gimmick that would make Enron executives blush