Tax Exemption, Beautiful Bill
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President Donald Trump’s “big, beautiful bill” includes major wins for business interests that carried out aggressive lobbying campaigns on Capitol Hill.
As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).
New York Gov. Kathy Hochul and other NY officials spoke in Kingston July 18 to condemn the impacts of the "big beautiful bill" on local residents.
An analysis by the Maryland Department of Health projects an annual loss of $2.7 billion because of changes to Medicaid.
But the ugly new law is one of the least popular acts ever.
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While a budget surplus exists in Georgia, the impact of federal cuts remains unclear, prompting a cautious approach from Gov. Kemp.
Republicans in the U.S. House are looking to take a victory lap in Las Vegas July 25 to tout the passage of President Donald Trump’s “Big Beautiful Bill” with a field hearing