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One of the features of the Donald Trump presidential election was that the wealthy, for workers and companies, would also eliminate tax reductions.
Currently, the Republican members of Congress have a job to understand which of these reductions proposed to the law. To pay the reduction, they began to see some targets to collect funds. Among them, it reduces the interests of single mothers and poor people who depend on government health care.
The proposal is included in the menu of tax and expenditure reduction option distributed by the Republican members of the House of Republican this month. It has not yet been seen whether Republican members will establish ideas. Some potential goals are popular tax deductions, and reductions may be politically dangerous. And if you reduce taxes for wealthy people, there is a danger that Trump will damage the image of the populist cultivated.
In the case of Ultra Wealth, this document is a float that eliminates federal property taxes with a estimated cost of $ 370 billion of the government for 10 years. Taxes claim the percentage of the value of the property of the person after the death of a person, and only the real estate of about $ 14 million or more.
According to a tax center think tank estimate, almost 30 % of the taxes are paid by the top 0.1 % of the very few Americans. (Many super wealthy people have already avoided taxes. For many years, lawyers and accountants often use complicated trust structures, as Propublica previously reported. I have devised how to hand it over.
Another proposal is to reduce the highest tax rate paid by the company to almost one -third.
Trump promised such a reduction during the campaign. However, Vice President JD Vans opposed it before Trump chose him as his running companion. “We are in line with OECD now,” he said in an interview last year, about economic cooperation and development agencies, a group of 38 wealthy developed countries. “I don’t think it is necessary to lower the corporate tax rate further.”
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In Trump’s first term, he reduced the top corporate rate from 35 % to 21 %. Currently, the United States has been raised from a higher percentage compared to other OECD countries. The reduction of 15 % proposed is the US rate in such countries.
In order to pay a new tax cut, the Republican Proposal will emerge a series of potential overhaul of the government program. One of the main focus is the reduction of Medicade, a healthcare program for low -income people managed by the state. The expansion of Medicade was an important doctrine of affordable prices that were passed under President Barak Obama. Many Republican governors have first chose not to use new Federal subsidies to expand their programs. Meanwhile, several states reversed the course, and the program expanded the number of people registered with Medicade as of last year.
Deep reductions to programs floating in the document include reduction in refund to the state. According to KFF analysis, the state eliminates the compensation of some people, eliminates the compensation of some people, covers more services, and (or) paid to doctors, hospitals, and nursing homes. It is necessary to increase new profits or reduce medicade spending. “
Trump has been consistent in his position for Medicade for many years. He tried to reduce the program in his first semester. But he also made a statement about protecting it for many years.
As with the 2023 campaign event, Trump promised that “I don’t intend to play with Medicea, Medicade.” But it is not clear whether the comments are disposable. The program that covers the health care of the elderly while preserving Medicare was the focus of Trump, which did not maintain Medicade. For example, the official GOP platform, which was deployed by Trump last year, promised not to reduce “1 penny” from Medicare, but was silent about Medicade. In a separate remark in last year’s campaign, Trump seemed to support the “qualifications” after interviewers asked about Medicate, Medicade, and social security.
Other proposals will eliminate tax deductions for families with children.
Currently, parents can receive up to $ 2,100 tax deductions for childcare costs. The Republican Party’s plan is to eliminate the break. This cut is estimated to save $ 55 billion in 10 years.
In particular, Vance promised an economic policy to reduce parent’s load. “It is our government’s job that young moms and dads can afford to have children,” he said last week. (He conducted a campaign with more than twice the proposal of child tax deduction.)
Another proposal on the option list is aimed at the parents who raise their children straight. This provision eliminates the status submitted by the head of the household, and collects almost $ 200 billion taxes from other adults who take care of their own parents and other adults for more than 10 years.
The status of the “head of the household” was created in the 1950s on the theoretical basis that one parent should bear a lighter tax burden. Eliminating it will affect millions of Americans and women. (According to the analysis of the Tax Foundation, the salary of the 20th percentile and 80 %, $ 14,000 to $ 100,000, will decrease at the highest percentage.)
The Democratic Party has criticized proposals as a gift for wealthy people at the expense of the worker class. “Republicans are preparing for the class war with American daily families,” said D-ORE. Senator Ron Widen stated in a statement.
The White House Spokesman did not answer questions about the details of the House Gop document, but in e -mail, “This is an aggressive negotiations, and the president and his team are producing with Congress. Visit his house. [Monday] It was a sign that he wanted to give priority to unity, and it was a good trading for Americans who have achieved his promises for his campaign. “
A spokesman of the House of Representatives Budget Committee refused to respond to specific questions, but “This is a policy option menu for approval of a committee that considers the settlement process when navigating the settlement process.” I said.
Some proposals will promise Trump’s campaign. It is targeted at the working class.
This document includes a plan to eliminate income tax on hints (but maintain salary tax) at $ 106 billion in 10 years. This proposal is to advertise Trump during the campaign in Las Vegas, winning the support of huge service workers in cities. Former Vice President Kamara Harris, the opponent of Trump’s Democratic Party, pledged to do the same later. Economist is paid the same idea, but this is an unfair profits to one group of worker -class employees, rather than other people who work in other industries that do not handle hints. I criticize ideas.
How many students were expelled under the threat law of Tennessee’s school? There is no clear answer.
Another promise of another Trump campaign in the document is to terminate overtime taxes at $ 750 billion in 10 years. This proposal has been criticized by tax experts as an inefficient way to provide rescue to low -wage workers who are qualified for overtime, paid for each time and repeat tasks. Critics say that the provisions will invite the game and create new reports on the time of taxpayers to make tax reports more complicated.
One of the biggest tickets proposals to increase new income in the Republican Republican document will be the tax cut by the U.S. Americans. This document estimates $ 1 trillion in 10 years by eliminating breaks. According to tax law, the estimated value of this deduction is 60 % of the value of this deduction value for Americans who earn more than $ 200,000 per year, because of the complex interaction of different functions of tax law.
Eliminating the interest deduction of the mortgage has an uneven geographical impact. The analysis has discovered that tax deduction is more valuable for Americans in democratic countries such as California, Massachusetts, and New Jersey.
PRATHEEK REBALA has contributed to research.
Is there any information about the tax proposals we need to know? Robert FATURECHI can be contacted by email [email protected] By the signal or WhatsApp of 213-271-7217. Justin Elliott can be contacted by email [email protected] Or by Signal or WhatsApp of 774-826-6240.
