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OBBBA receiving final Medicaid, IRA edits from Senate before imminent vote

 Overview of the One Big Beautiful Bill Act

- U. S. Senate prepares for final vote on multitrillion-dollar package.

- Package codifies the expiring 2017 tax cuts and raises the debt ceiling by $5 trillion.

Republican Strategy

- Republican leaders striving to gain support for the budget reconciliation bill.

- Bill funds Trump's energy, border, and defense agenda and aims for $1. 6 trillion in federal savings.

Concerns from Fiscal Hawks

- The bill's $3. 3 trillion ten-year cost and new cost-scoring methods alarmed some Republicans.

- Opposition exists over Medicaid reforms and changes to the SALT deduction cap.

Senate Edits and Compromises

- Last-minute edits made to appease Senate holdouts.

- Majority vote needed for the bill's passage.

Changes to Energy Subsidies

- Bill repeals $517 billion in unobligated IRA funds.

- Eligible energy projects must be operational before 2028.

- Less restrictive on nuclear, geothermal, hydrogen, and hydropower energy.

- Metallurgical coal added to tax credit eligible sources until 2029.

Tax Implications

- New tax on wind and solar projects using materials from foreign entities, notably China.

- Immediate termination of electric vehicle tax credits; phased out credits for EV chargers by mid-2026.

Challenges from Fiscal Hardliners

- OBBBA uses current policy baseline for tax cuts, which might not satisfy all critics.

- House version extended tax cuts for ten years with budget changes.

Medicaid Provider Tax and Additional Funding

- Gradual lowering of Medicaid provider tax cap from 6% to 3. 5%.

- $25 billion hospital stabilization fund included after negotiations.

- Opportunity to vote on amendment to double the fund with a new tax bracket.

SALT and Deduction Cap Adjustments

- Temporary increase of SALT deduction cap to $40,000 until 2030; reverts to $10,000 thereafter.

- Senate OBBBA compromises failed to become permanent cap as proposed in the House.

Voting Dynamics

- Only one more Republican vote can be lost for bill passage.

- Introduction and voting on amendments scheduled for Monday; final vote expected Monday night. 

https://www.thecentersquare.com/national/article_0cd28056-becd-4e7c-9b7a-ac0390bbf32a.html

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