Overview of the Vote-a-Rama for the One Big Beautiful Bill Act
- Senators will start a series of votes to pass the One Big Beautiful Bill Act.
- The voting session, known as a “vote-a-rama,” will likely extend into Tuesday.
- The legislation seeks to implement major changes to U. S. policy and funding over 10 years.
- It aims to fulfill President Trump’s “Make America Great Again” promises.
- Trump desires final passage of the bill by July 4.
- The Senate previously approved advancing the legislation with a 51-49 vote.
Key Components of the Bill
- America First Healthcare
- 2017 Tax Cuts Extended
- The bill extends tax cuts from the 2017 Tax Cuts and Jobs Act.
- Tax rates would revert to pre-2017 levels if not extended by fiscal year 2025.
- Child Tax Credit Boosted
- Raises the Child Tax Credit from $2,000 to $2,200 and makes it permanent.
- Reduced Taxes on Overtime, Car Loans, Tips
- Deduction for the first $25,000 in tips and up to $12,500 for overtime pay.
- Deduction up to $10,000 for car loan interest on American-made vehicles.
- $6,000 Social Security Deduction for Seniors
- Allows seniors to deduct $6,000 from their Social Security income, subject to income limits.
- Funding Immigration and Border Security
- Allocates $150 billion for immigration enforcement and border security.
- Includes nearly $30 billion for Immigration and Customs Enforcement.
- $45 billion dedicated to detaining illegal immigrants and $46. 5 billion for the border wall.
- Defense Funding
- Appropriates $157 billion for defense.
- Funding includes enhancements for U. S. maritime capabilities and support for Israel's defense project.
- Clean Energy Tax Credits
- Cuts several clean energy tax credits, including those for electric vehicles.
- Tax on new wind and solar projects that use foreign components.
- Medicaid and Rural Hospitals
- Imposes an 80-hour work requirement for able-bodied adults on Medicaid.
- Allocates $25 billion to support rural hospitals.
- SNAP Cuts
- Requires states to contribute to SNAP payments for the first time.
- Increases states’ administrative cost share from 50% to 75%.
- $5 Trillion Debt Ceiling Increase
- Proposes an increase of $5 trillion to the U. S. debt ceiling.
- $40,000 SALT Cap
- Increases State and Local Tax (SALT) deduction cap from $10,000 to $40,000.
- Education Policies Tweaked
- Adjusts Pell Grant eligibility and proposes two student loan repayment plans.
- Taxes college endowments based on their wealth.
- Restrictions on Regulating AI
- States must not regulate AI for 10 years to access a new broadband fund.
Provisions Cut From the Bill
- Several provisions were ruled ineligible for reconciliation, requiring 60 votes.
- Notable cuts included proposals related to immigration law enforcement and federal workforce.
- Other dropped proposals included federal land sales and tax cuts on certain firearms.
Conclusion
- The bill is a significant legislative effort embodying key aspects of Trump's agenda and involves contentious issues, including tax policies, immigration, healthcare, and education reform.
https://www.theepochtimes.com/us/whats-in-the-senate-version-of-the-big-beautiful-bill-5880045
Comments
Post a Comment