House Republicans Pass Budget Resolution with Tax Cuts and Spending Reductions

House Republicans have passed a budget resolution that includes significant tax cuts and spending reductions, marking a key step in advancing President Trump’s domestic agenda. The framework, approved by a narrow margin of 217 to 215, outlines a sweeping multitrillion-dollar plan addressing defense, energy, immigration, and tax policy. Notably, the budget includes $4.5 trillion in tax cuts over the next decade, with provisions to renew the 2017 Trump tax cuts and proposals to eliminate taxes on tips, overtime, and Social Security.

The resolution also mandates $2 trillion in spending cuts, though the specifics of these reductions will be determined by individual House committees. This has raised concerns among moderate Republicans about potential cuts to social safety net programs like Medicaid. House Speaker Mike Johnson emphasized the importance of the budget as a foundational step in delivering the “America First” agenda, despite the challenges ahead.

The next steps involve crafting detailed legislation and addressing a looming government funding deadline by March 14. The process is expected to be contentious, with Democrats opposing the proposed cuts and some Republicans expressing reservations about the fiscal impact. The budget’s passage sets the stage for further negotiations and potential clashes over spending priorities.

After GOP passes budget resolution, Congress to-do list only gets tougher from here

After GOP passes budget resolution, Congress to-do list only gets tougher from here

Now that a GOP approved a framework, the party needs to fill in the blanks for a sweeping multitrillion plan to address defense, energy, immigration a

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Trump signed many executive orders on first day but none on taxes for tips, overtime. Where those proposals stand

Trump signed many executive orders on first day but none on taxes for tips, overtime. Where those proposals stand

During his campaign, President Trump proposed getting rid of taxes on overtime, tips and Social Security. What to know about those plans.

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No taxes on tips closer to reality with multiple pathways 

No taxes on tips closer to reality with multiple pathways 

A pair of bills in the House would eliminate taxes on tips, considering them a “gift.”

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What’s Happening With Taxes on Overtime Pay?

What’s Happening With Taxes on Overtime Pay?

Donald Trump’s proposal to eliminate overtime tax has ignited a lot of chatter. Here's what you need to know.

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NC lawmakers push to copy Trump's 'no tax on tips' proposal, with details still unclear

NC lawmakers push to copy Trump's 'no tax on tips' proposal, with details still unclear

House Bill 11 would exempt all tips or overtime from state income taxes. It would also exempt bonuses from being taxed, up to a maximum of $2,500.

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Trump’s Proposed Overtime Tax Exemption Would Distort Work Decisions

Trump’s Proposed Overtime Tax Exemption Would Distort Work Decisions

Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certai

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