Good evening from New York. I'm Chris Hayes. Well, Donald Trump got his bill.It's unclear whether he understands what's in it, but he got his bill. Republicans got on board. And now all that is left for those opposed to this monstrosity is to make the Republicans who voted for it pay a political price.Just hours ago, House Republicans voted by a very thin margin to approve Donald Trump's deficit busting, Medicaid slashing omnibus MAGA bill. Trump's expected to sign it into law tomorrow, the 4th of July, in ...

Congress has passed an agreed-upon version of the "Big Beautiful Bill," an act that would extend tax cuts and slash Medicaid and SNAP funding. https://t.co/CPTIQzmibo ...

If it's Thursday, massive legislation and a massive win for the White House. The president's sprawling mega bill is now headed to his desk to be signed into law after a grueling fight to get it through the House and over the finish line. Plus, Democrats vow to fight on all the way to the midterms after House Minority Leader Hakee Jeff delivers a record-breaking floor speech opposing the legislation. and detainees begin arriving at the facility dubbed Alligator Alcatraz after I got an in-depth look inside th ...

To help offset the cost of tax cuts and new spending in their sweeping bill, congressional Republicans have cut nearly $1 trillion over ten years to Medicaid. Here's what you need to know https://t.co/9VZdUS4mWo ...

Eventually we got this. The president had said there was going to be no more negotiations. This was going to be done by the July 4th holiday.It is July 3rd in the afternoon, and at least passage of the bill is now complete. What's next. The next thing is the president plans to sign the legislation tomorrow.And you can bet that there's now going to be a giant message war between Democrats and Republicans over whether this is good for America or bad for America. We already had 8 hours and 35 minutes of Hakeem ...

The big beautiful bill would have serious consequences for the American economy. It would extend lavish tax cuts, slash health care for the poor, boost defence spending—and add an estimated $4.5trn to the public debt https://t.co/8nPekT0Z4t ...

Tax Bill Impact - Approximately 80% of the tax bill's benefits accrue to the top 10% of earners [2] - The bottom 20% could see a decrease in after-tax income of $560 per year, a 2.3% decrease [3] - The middle 20% would see a slight gain of $760 per year, or 1.5% [3] - The top quintile receives a $6,000 cut, about 2.3% [4] - The top 1%, those making $650,000 or more, get a tax cut of about $32,000 a year, 2.1% [4] Tax Policy Details - Extending the standard deduction costs $1.4 trillion [4] - Child tax credit costs $800 billion [4] - Eliminating tax on tips and overtime costs over $120 billion [5] - Bonus depreciation allows businesses to deduct 100% of capital investments immediately, retroactive to January 2025 [8] Regional and Temporal Considerations - The extension of the salt deduction is a positive change for those in high tax blue states, up to $500,000 in income, phasing out in 5 years [6] - Many provisions of the tax bill are set to expire in approximately 5 years due to budgetary reasons [7]

When we see such a positive jobs report, 147,000 jobs and a lower unemployment level, what is this. What is driving this. Good morning.Thanks for having me. Look, you know, as you said a moment ago, you know, this report was better than 78 out of the 79 forecasts that came into into the Bloomberg consensus range, the Bloomberg forecast. And so what we see is an economy that continues to defy it, continues to defy expectations, continues to defy, you know, all the doom and gloom that's out there, whether it' ...

Tax Bill Overview - The House is expected to vote on President Trump's tax bill, likely resembling the Senate version [1][2] - Democrats argue the bill disproportionately benefits higher-income households [6] Income Group Impact - The bottom 20% could see a decrease in after-tax income of approximately $560 per year, equivalent to a 23% decline [3] - The middle 20% might experience a slight increase of about $760 annually, representing a 15% rise in after-tax income [3] - The top 20% could receive a tax cut of around $6000, approximately a 23% increase [4] - The top 1% may see a tax cut of about 21%, with benefits potentially declining at the very top due to income thresholds [4] Key Provisions & Costs - Extending the standard deduction is estimated to cost $14 trillion [5] - The child tax credit is valued at $800 billion [5] - Limiting taxes on tips and overtime amounts to over $120 billion [5] - Extending lower marginal tax rates is the most expensive component, exceeding $1 trillion [5] Beneficiaries - Approximately 80% of the benefits from the Senate bill are projected to go to the top 10% of earners [2][6] - The top 10% contribute 70% of the taxes [6] - The working and middle classes are expected to benefit from provisions like the standard deduction and child tax credit [7] Business Impact - Immediate expensing of R&D and capital investment is considered the most economically significant aspect for businesses [7]

Investors are watching the House of Representatives as it prepares to vote on President Trump's mega bill while also awaiting the June jobs report. Let's bring in Drew Mattis, head of the global economic and market strategy team at Metife Investment Management. Drew, great to have you with us.Um, first, because they're discussing it as we speak in Congress, the bill, how important is that to your overall market outlook for later this year in terms of getting those tax cuts extended. Well, without the tax cu ...