Tax Cut
Search documents
This Morning’s Top Headlines – July 4 | Morning News NOW
NBC News· 2025-07-04 12:30
Government Policy & Legislation - President Trump's tax cut and spending bill passed, heading to his desk to be signed into law [1] - The bill includes extending tax cuts, new military spending, and funding for a mass deportation plan, paid for partly by cuts to food aid, clean energy, and Medicaid [3] - The bill eliminates taxes on tips and overtime [7] - The nonpartisan Congressional Budget Office estimates the bill will cause nearly 12 million people to lose healthcare coverage and add approximately $3 trillion to the national debt [11][12] Political Landscape - The bill passed largely on party lines, with some Republican holdouts needing persuasion [2][4] - Democrats strongly opposed the bill, attacking its overhaul of social safety net programs [6] - Republicans view the bill as fulfilling campaign promises, including no taxes on tips and overtime pay [13] - The bill is expected to be a political football, with Democrats planning to campaign against Republicans in the midterms [12][13] Immigration & Border Security - The bill includes funding for border security [3][13] - A new immigration detention center in Florida, dubbed "Alligator Alcatraz," has opened, raising human rights concerns [18][19] - Lawmakers have been denied access to the facility, leading to concerns about inhumane conditions and environmental impacts [19][20] - The facility has approximately 3,000 to 5,000 beds to house migrants [21] Social Issues - The Supreme Court will review state laws banning transgender athletes from competing in girls' and women's sports [23] - The cases concern whether such laws violate the 14th amendment [24] Weather & Travel - Severe weather caused flight delays and damage in the Northeast, impacting holiday travel [30][32] - Federal agencies are not tracking any specific threats but are highly aware heading into the holiday [33] - Approximately 62 million people are driving to their holiday destinations [36] - New York will host its iconic fireworks display, with 80,000 shells, the biggest show ever in New York [37][38][39]
Who benefits from Trump’s megabill? ‘The ultra rich’: Dem lawmaker says
MSNBC· 2025-07-03 18:29
I want to bring in now Democratic Congressman Robert Garcia of California. He's the newly minted ranking member of the House Oversight Committee. Congratulations on that election, Congressman.I I wonder if Leader Jeff, as we continue watching him here on the floor, gave any of you a heads up about what this magic minute would actually become here. Yeah, I mean, look, for we're incredibly obviously proud of of of the leader. Uh I've been in that in that chamber.We've all been with him there. Uh he's been now ...
Watch CNBC's full interview with U.S. Treasury Secretary Scott Bessent
CNBC Television· 2025-07-03 16:50
The so-called big beautiful bill facing a final house approval vote in the coming hours. Joining us now is Treasury Secretary Scott Bessant. Mr.. Secretary, thank you so much for joining us. We're we're going on more than six hours now where Minority Leader Jeff is speaking. What What are you hearing.What's your expectation for when and whether this could pass. Uh, well, it's going it's going to going to pass and my expectation is that we'll get a vote around 130 today. Got it.You have said that this isn't ...
Treasury Secretary Scott Bessent: I expect we'll get a bill vote around 1;30pm today
CNBC Television· 2025-07-03 16:45
The so-called big beautiful bill facing a final house approval vote in the coming hours. Joining us now is Treasury Secretary Scott Bessant. Mr.. Secretary, thank you so much for joining us. We're we're going on more than six hours now where Minority Leader Jeff is speaking. What What are you hearing.What's your expectation for when and whether this could pass. Well, it's going it's going to going to pass and my expectation is that we'll get a vote around 1:30 today. Got it.You have said that this isn't a d ...
Tax changes for high earners: Here's what to know
CNBC Television· 2025-07-02 11:54
Welcome back to Squawkbox. Look at that handsome picture of a guy named Robert Frank, uh, who knows a lot about money and how we spend it and how to save it maybe and all those things. But today, he's going to tell us what the bill might look like come next April, the Senate passing President Trump's sweeping tax cut and spending bill.In today's edition of Inside Wealth, that man, the handsome one, Robert Frank, taking a look at what it means for the tax bill for high earners and investors. So, is it is it ...
'It's just awful': Schiff shames Senate GOP for voting against protecting kids' food assistance
MSNBC· 2025-07-01 03:25
Government Policy & Social Impact - A proposed amendment to guarantee food assistance for families with children under 12 was voted against by all 53 Republicans in the Senate [1] - The bill is criticized for taking healthcare and food away from children, while also borrowing from future generations to fund tax cuts [3] - The cuts to healthcare could result in the deaths of thousands, potentially tens of thousands, of Americans [8] - Tax cuts of $346,000 per year are expected for individuals earning over $5 million annually [9] Political & Ethical Concerns - The current generation is portrayed as selfish for prioritizing tax cuts over the needs of hungry children and future generations [4] - The action of cutting food aid to starving children in Africa is criticized, with reports of hundreds of thousands of deaths resulting from these actions [5][6] - The deployment of National Guard troops in Westwood, Los Angeles is seen as a wasteful use of resources and a potential detriment to morale and fire defense capabilities [10][11][12] - The use of the National Guard for domestic law enforcement is criticized as a political tool that erodes trust [12][13]
GOP pushes to pass Trump’s ‘Big Beautiful Bill’
NBC News· 2025-06-30 23:45
The battle over President Trump's so-called big beautiful bill. Elon Musk once again slamming it. Ryan Nobles is tracking all the developments for us from the Hill.And Ryan, Democrats are also pulling out all the stops tonight to try and delay it. That's right, Tom. Democrats are offering up a series of amendments to try and slow this process down.But ultimately, it will be up to Republicans to come up with the votes to move this bill closer to President Trump's desk. Tonight, Senate Republicans dashing to ...
X @Bloomberg
Bloomberg· 2025-06-30 22:00
The Senate’s version of Donald Trump’s tax cut bill will cost the bottom 20% of taxpayers an average of $560 a year while giving an average boost of $6,055 to those at the top end https://t.co/Aw1I2ANb9d https://t.co/1qXS1S50tR ...
Horrible piece of legislation’ making ‘people fearful’: Arizona Sen. Kelly
MSNBC· 2025-06-30 20:45
Joining me now is Arizona Senator Mark Kelly. Senator, really good to have you. Um, you come from an interesting state right now, especially tell me how um how your constituents feel about this bill.Well, I've been traveling across the state over the last couple months. Uh I live in Tucson, but Phoenix and Sierra Vista, Clarkdale, places like this, and it it's a horrible piece of legislation. People are fearful.Uh people who are sick and rely on Medicaid could potentially lose their insurance. I was feeding ...