GOP, Tax Bill
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U.S. Republican tax writers pushing through President Donald Trump's signature tax cut priorities proposed to eliminate a customer tax on firearm silencers, potentially undoing the almost 100-year-old tax.
The bill includes more than $140 billion in spending on the Trump administration's plan to crack down on illegal immigration. That includes $50 billion for completing the wall on the southern border, $45 billion for detention centers, $8 billion to hire more immigration officers, and $14 billion for deportations.
The party’s leaders in the House face some difficult trade-offs in their effort to pass by the end of the week a measure that would reduce taxes and trim Medicaid.
Republicans said that now is the right time to cut the state’s top income tax rate from 4.75% to 4.5%, which will allow Oklahomans to keep more of their money. They said will grow spending and increase Oklahoma’s competitiveness in luring new residents to the state.
Goldman said tariffs could overshadow and boost to the economy provided by Republicans' sweeping fiscal package, which includes big tax and spending cuts.
Republicans who control the U.S. House of Representatives will try to nudge President Donald Trump's sweeping tax bill toward passage this week, despite a running battle over spending cuts and tax breaks that threatens to shatter their fragile majority.
WASHINGTON (AP) — Republicans will look to get their massive tax cut and border security package back on track during a rare Sunday night committee meeting after that same panel voted against advancing the measure two days earlier, a setback that Speaker Mike Johnson is looking to reverse quickly.