Core Insights - Millions of Americans will see tax savings for the 2025 tax season due to the provisions of the Big Beautiful Bill Act (OBBBA), which made many aspects of the 2017 Tax Cuts and Jobs Act (TCJA) permanent and introduced new tax deductions and credits for households [1] Tax Savings by Income Group - Working-class families earning between $15,000 and $30,000 will experience a 21% tax cut, the largest reduction among all income groups [2] State-Specific Tax Savings - Taxpayers in different states will experience varying levels of tax savings, with some states projected to save significantly more than others [3] California - California taxpayers are expected to save an average of $2,293.15 annually, primarily due to estate and gift tax breaks, averaging $898 per return, potentially saving over $3.2 million per estate [4] - The State and Local Tax (SALT) deduction is significant, with about 15% of Californians itemizing their returns, leading to average savings exceeding $5,200. Seniors benefit from an average savings of $1,386 with a new $6,000 senior deduction, and over 6.6 million qualifying children are eligible for the Child Tax Credit (CTC) [5] Oregon - Oregon taxpayers are projected to save an average of $2,226.61 annually, with estate and gift tax benefits averaging about $963 per return, allowing estates to save upwards of $2.5 million [6] - Approximately 13% of Oregonians itemize their returns, resulting in average tax savings exceeding $5,500. Seniors, making up about 20% of the population, could save over $1,100 on average with the new senior deduction, and there are over 670,000 qualifying children eligible for the CTC [7] Massachusetts - Massachusetts ranks third, with taxpayers saving an average of $2,150.45 annually, driven largely by estate and gift tax savings, which average about $921 per return, with individual estates saving more than $2.3 million [8]

We've made clear uh in the House that we will consider anything that emerges from the Senate in good faith in a bipartisan way uh that both reopens the government while at the same time addresses this healthc care crisis and extends the Affordable Care Act tax credits in a meaningful way. The uh 90% or so of the people who benefit from these Affordable Care Act tax credits make $63,000 per year or less. And a significant number of small businesses and entrepreneurs across the country rely upon the affordabl ...

Healthcare Market Dynamics - Obamacare marketplaces enrollment significantly increased, particularly after 2021 due to expanded subsidies [3] - Enrollment more than doubled between 2020 and 2025 [3] - There are now 242 million people enrolled in these marketplaces [4] Red States vs Blue States - Red states experienced a 157% increase in marketplace enrollment, compared to 36% in blue states over the last 3 years [4] - Over 10% of the population in several red states, such as Texas and Utah, are enrolled in the marketplace [4] - Republican congressional districts have almost 8% of people in the marketplaces, while Democratic districts have 63% [6] - Red states use premium tax credits almost twice as frequently as blue states [8] - The average benefit in red states is $580 per month, or $5700 per year [8] - Seven out of ten of the most affected states by potential healthcare cuts will be red states [9] Healthcare Policy & Impact - Undocumented immigrants cannot get healthcare through Medicaid or take advantage of tax credits, they can only go to an emergency room [11] - Only 04% of Medicaid spending is on emergency room subsidies, which includes all Americans, not just undocumented immigrants [12] - Over 40% of hospitals in America lose money, with an even higher percentage of rural hospitals losing money [14]

Political Standoff - Government shutdown drags into day seven [1] - Republican Congresswoman Marjorie Taylor Green breaks from her party [1] - Speaker Mike Johnson dismisses Congresswoman Green's opinion due to her lack of expertise on the relevant committees [2] Healthcare Policy - Key issue in the government shutdown is the extension of Obamacare tax credits [1] - Congresswoman Green supports the extension of Obamacare tax credits because her children's health insurance premiums will double if the credits expire [1]

Morning, Mike. Yeah, President Trump said he was open yesterday to making a deal with Democrats on extending those Affordable Care Act tax credits. That opens up a potential off-ramp here for the government shutdown.But Trump did come back caveat his comments with a post on Truth Social, saying that he was happy to work with the Democrats on their failed healthc care policies or anything else, but first they must allow our government to reopen. And that stance from Trump mirrors the stance of a number of Se ...

Government Shutdown & Political Stalemate - The government shutdown is ongoing with no clear end in sight, as both sides are at a stalemate [1] - Senators are voting for the fifth time to fund the government, but the vote is expected to fail due to disagreements over tax credits related to the Affordable Care Act [2] - The White House warns of potential federal job layoffs due to the shutdown [2][3] - Republican House leaders have cancelled votes, placing the responsibility for resolving the shutdown on the Senate [5] Economic Impact - The shutdown could impact GDP and delay the release of key economic data, including trade deficits, jobless claims, and wholesale inventories [4] Personnel Changes & IRS Leadership - Treasury Secretary Bessant will remain commissioner of the IRS, and Frank Biscano has been appointed CEO of Social Security [6] - The Trump administration shows a pattern of top cabinet officials taking on more responsibilities [7] - The White House is potentially using these appointments as a quicker way to fill positions, possibly bypassing congressional scrutiny [8][9] - The IRS has seen significant leadership turnover, with the current leader being the eighth person in a leadership role since the start of the year [9] - The IRS's funding has been a point of political contention, with increases under Biden and decreases from Republicans [10]

the government shutdown day three uh with votes expected this afternoon. Emily Wilkins joins us now from Washington. Good morning. >> Good morning, Joe.Yeah, look, at this point there is no clear answer on how this government shutdown is going to end, but we are seeing a potential off-ramp that could be emerging, a bipartisan path forward on extending some of those tax credits for health care premiums. Now, right now, of course, those enhanced credits, they're set to expire at the end of the year. And most ...

Government Shutdown & Funding - A US government shutdown occurred due to disagreements between Democrats and Republicans on federal spending [1] - Republicans passed a clean funding bill to extend funding until November 21st, while Democrats seek an extension of enhanced COVID-era Obamacare premium subsidies [2] - Republicans are largely unified in their stance against extending these subsidies, viewing them as not "appetizing" in the context of government funding negotiations [5][9] - A potential resolution involves extending government funding for seven weeks, with the likelihood of renewed conflict thereafter [4] Political Strategy & Negotiation - Republicans are perceived to have the upper hand and are unlikely to concede to Democratic demands [2] - The strategy involves repeatedly putting up the clean CR bill, hoping more Democrats will "fold" [3] - Exhaustion from the shutdown's impact on government services could eventually push both parties toward reopening the government [12] - Republicans are not inclined to negotiate at this time, with key figures stating they will not offer anything beyond the current proposal [11] Healthcare Debate - A central point of contention is the extension of Obamacare tax credits, initially implemented during COVID [4][19] - Republicans argue these credits were temporary and should not be part of government funding [19] - Democrats are not explicitly trying to provide healthcare to illegal immigrants through this process [17][18] - There is a disagreement on whether federal funds are indirectly covering healthcare for millions of undocumented immigrants, particularly in states like California [18] - Potential for healthcare premiums to jump 75% if the subsidies are not extended, which could create problems for Republicans [19]

Government Shutdown Threat - The US Congress is facing a potential government shutdown, reminiscent of the 2018-2019 shutdown [1] - A Senate stop-gap plan to fund the government through November 21st faces challenges in securing enough votes [1] - Senate Democrats are seeking provisions related to healthcare, specifically the extension of premium tax credits under the Affordable Care Act [1] - The expiration of these credits could lead to a 75% increase in insurance prices for over 20 million Americans [1] - The White House warns of potential large-scale layoffs if the government shuts down [4] Political Positions - Senate Majority Leader John Thune suggests potential compromises on healthcare, including income caps and addressing waste, fraud, and abuse, but emphasizes the need to first keep the government funded [1][2] - House Minority Leader Hakeem Jeffries argues that Republicans, controlling the House, Senate, and White House, will bear the blame for any shutdown [3][4] - Republicans are open to discussing healthcare reforms but refuse to negotiate while the threat of a government shutdown persists [7] - Some Republicans oppose extending tax credits, citing concerns about adding hundreds of billions of dollars to the debt and deficit [7] Negotiation Impasse - There is a lack of bipartisan talks, making it unclear if a solution can be reached to prevent a shutdown [5] - Democrats suggest that President Trump may have previously shown interest in extending tax credits [6]

Government Shutdown & Negotiation - Top Republican and Democratic lawmakers are meeting with the president to discuss avoiding a government shutdown [1] - The White House wants Democrats to commit to a clean Continuing Resolution (CR) [2] - Democrats are demanding provisions on healthcare, specifically extending Affordable Care Act premium tax credits [4] - Senate Democrat leader Chuck Schumer views the meeting as only a first step [3] Healthcare & Tax Credits - Over 20 million Americans could see their insurance costs rise roughly 75% if the premium tax credits are not extended [4] - Permanently extending the premium tax credits could add $350 billion to the deficit [5] - Some Republicans, like Congressman Chip Roy, oppose extending the tax credits, calling them inflationary subsidies [5] - Senate Majority Leader John Thune suggests addressing premium tax credits after government funding is resolved [5] White House Spending & Congressional Approval - Democrats are questioning whether the White House is spending money already approved by Congress [6][7] - The White House's spending decisions are undermining negotiations and agreements [7] - Republicans have historically been hesitant to prevent the president from controlling spending [8]