Trump, tax cuts and GOP bill
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Almost all of the cuts that Republicans hope to pass in the coming weeks will last only until President Trump is set to leave office.
4hon MSN
Gov. Kevin Stitt has joined Oklahoma legislative leaders in announcing a sweeping agreement on a nearly $12.6 billion state budget for the next fiscal year, one that features an income-tax cut Stitt long has hoped for during his six-plus years in office.
The vote came after an all-night debate that saw at least one lawmaker fall asleep at his post. Republicans rejected a series of proposed changes by opposition Democrats, who blasted the bill as a wasteful giveaway to the wealthy that would shred health and food benefits for the poor and worsen the nation's financial standing.
The House Ways and Means Committee voted 26-19 to approve the tax part of the legislation after a marathon markup meeting that lasted more than 17 hours.
State leaders rolled out the FY 2026 budget, which includes an income tax cut. Republican leaders did not originally see eye-to-eye on the logistics of the cut, but did come to a compromise.
G.O.P. leaders are exploring cuts to federal aid, leaving some states fearful that their budgets cannot absorb billions of dollars in new costs.
Cheers broke out early Wednesday as Republicans on the House Ways and Means Committee signed off on the GOP tax breaks bill after a grueling round-the-clock session. But there's more work to do.
The Shelby County Assessor said that county Mayor Lee Harris' claims on a 20% property tax cut are "simply not true."
Under current law, passed during President Donald Trump’s first term, the tax credit hinges onthe child’s citizenship status, not the parent’s. But the bill would limit eligibility to parents with Social Security numbers, a change that precludes undocumented immigrants as well as some with legal authorization, such as student visa holders.