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Rep. Tom Emmer on Trump's tax bill: This is a great bill for everyone
CNBC Televisionยท2025-07-02 12:33

Economic Growth & Tax Policy - The legislation aims to make tax cuts permanent, a policy in place for 7 years, to stimulate economic growth [1] - The administration projects 2.8% growth, contrasting with the CBO's 1.8% projection over the next 10 years [1] - The policy of giving Americans more of their hard-earned money is expected to improve lives and drive economic growth [1] - The President's leadership is expected to bring in $15 trillion in investment [1] Impact on Workers & Industries - The bill includes no taxes on tips and overtime, benefiting working men and women [1] - The legislation aims to help seniors with changes related to no taxes on social security [1] - The elimination of taxes on tips is expected to benefit restaurant employees and the restaurant industry [1] Legislative Process & Political Context - The reconciliation bill is back in the House with a deadline, aiming to pass legislation similar to what the House initially sent [1] - The bill is considered a "big beautiful bill" that is generational and historic, aligning with Donald Trump's agenda [1] - The legislation is framed as "the Americans, the people's bill" [1]