Trump’s tax and spending bill to boost take-home pay, worker wages: WH advisers

First on the fox: One of the main US Economic Agency is that President Donald Trump’s policy in his “big and beautiful bill” will increase the salaries of American families and higher wages for American workers.

The Economic House of Economists (CEA), which advises the White House of economic policy, issued a report on Monday morning: “It is taken as a whole, CEA estimates that the tax cuts in the president’s proposals and the great draft beautiful law will significantly enhance the investment and GDP for investment if the provisions of the provisions end [Tax Cuts and Jobs Act] They are not extended. “

Republicans in congress expand the scope of tax cuts and jobs in Trump permanently 2017 (TCJA), as well as the implementation of the short -term Trump tax policies list, such as disposal of penalties for deadly wages and additional work, while giving the elderly an additional tax deduction.

Republican leaders have warned that failure to extend TCJA may lead to a tax increase of 22 % for millions of families.

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But its extension may lead to more money in the pockets of people in the long run.

The new analysis said: “For workers and families, CEA expects wages to range from about $ 6100 to $ 11,600, with the family paid between 7800 dollars to 13300 dollars due to the increase in wages and the reduction of tax obligations.”

CEA said the additional discount for the elderly, at the same time, will increase the average home salaries for the elderly qualified by about 400 to 450 dollars per year.

If passed, the policies will enhance American investment in the long run from 4.9 % to 7.5 %, according to the projection, and can save or create up to 4.2 million full -term rewards in the long run.

Trump’s proposal also estimated “no tax on tips” alone to increase the salaries of neglected workers by an average of $ 1675 annually, while canceling the tax on additional work wages “will lead to an increase in additional working hours by 4.7 percent, which leads to an increase of 0.2 percent in the total labor offer while the verdict is effect.”

“As a result, the level of gross domestic product increases by 0.1 to 0.2 percent in the short term,” the projection said.

Mike Johnson speaker, R does not. , It introduces the draft law through the House of Representatives. (AP Photo/Rod Lamkey, JR., File)

“The American draft law will give the largest tax discounts in the history of our nation. When Republicans pass the bill, Americans will retain more of their hard -winged money and take their home in great salaries,” White House press secretary Caroline Levitte said during a briefing on Monday morning.

“If the Democrats are split on their way and the tax cuts are not extended in Trump, the Americans will face the largest tax increase in history to up to 4 trillion dollars. Republicans must not be the Democrats not to help them raise taxes,” Levit said.

This comes at a time when Republican Democrats accuse the intestine’s attempt to critical programs such as medicaid and social security to secure the tax increases of wealthy Americans.

They pointed to expectations such as those received by the Joint Taxes Committee, which said that people who receive less than $ 50,000 annually will receive $ 263 of tax exemptions, and those who achieve more than a million dollars will receive more than $ 81,000.

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But Republicans have argued that they focus on helping working classes with the tax bill in Trump – while taxes are not raised on any American.

Representative Mike Haridopoulos, R-FLA, indicated that the Republican Law does not touch the upper income tax segment.

“I heard this idea that we are a lack of taxes on the wealthy,” Haridopoulos said, referring to the talks of his democratic colleagues in the house hall last week.

“The current rate is 37 %. Under our proposed new bill, 37 % remain. We keep this rate fixed, and we do not reduce taxes to the wealthy. What we have to do, of course, is investing in people again – the best way to do is to provide tax reduction.”

White House journalist Caroline Levitte listens to journalists in the journalist journalist James Brady at the White House, on Friday, May 9, in Washington, DC. (AP/Alex Brandon)

Republicans are working to pass Trump’s policies on taxes, immigration, energy, defense and national debt in one huge bill through the budget settlement process.

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Reconciliation reduces the budget from the Senate threshold for passing from 60 votes to 51 votes, allowing the party in power to coordinate the minority – in this case, Democrats – to pass the comprehensive pieces, provided that they deal with the federal budget, taxes or national debt.

Republicans in the House of Representatives hope to strengthen the Trump bill through the House of Representatives by the end of this week, with the aim of a final bill on the President’s office by the fourth of July.