The Congress, with a republican majority, could soon give its final approval to a vast bill on taxation and expenses, incorporating many national priorities from President Donald Trump.
Here is a summary of the main elements of this legislation, which Trump hopes to sign before the national holiday of July 4:
Taxation
- Makes permanent tax rates reduced for individuals and businesses from the 2017 Trump Tax Tax Plan, which were to expire at the end of the year
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Creates new tax reductions until 2029 for income from tips, overtime, people over 65 and interest in national car loans
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Extends the tax advantage linked to local and state tax payments (SALT) from $ 10,000 to $ 40,000 until 2029
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Expands and makes tax reductions permanent for companies on equipment purchases, research and development costs and loan interest
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According to the Congress Budget Office (CBO), total tax revenues would be reduced by $ 4.5 trillion over ten years
HEALTH
- Establishes a work obligation for adults beneficiaries of the Medicaid program for low -income people
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Excludes many non-citizens from the Medicaid program
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Prohibits medical funding of transitional services for transgender people as well as organizations such as Planned Parenthood who practice abortion
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Restricted the “taxes on providers” that some states use to increase the federal payments of Medicaid
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Includes $ 50 billion for rural hospitals to compensate for the impact of hardening on service providers
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According to the CBO, these changes would leave nearly 12 million additional people without insurance coverage
Energy and environment
- Removes incentives for electric vehicles, residential solar equipment, battery systems, heat pumps, energy -efficient devices and housing renovations
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Extends oil and gas exploitation in the Gulf of Mexico, Alaska and other federal lands
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Ends incentives for clean electricity and green energy production
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Reduces the financing of the application of environmental regulations
IMMIGRATION
- Finance the construction of the wall on the border
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Increases the workforce for the application of immigration laws, border control and immigration courts
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Increases detention capacity for the application of immigration laws
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Imposes costs of up to $ 5,000 for immigrant work permits, judicial hearings and other steps
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Imposes a 1 % tax on the funds sent by immigrants to their country of origin
Help with students
- Tightens the reimbursement programs for student loans
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Reduces certain student loan programs
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Limits the government’s ability to cancel student debt
Food aid
- Strengthens the work requirements for some of the 41 million beneficiaries of the Snap food aid program
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Transfers certain costs of the federal government to the States
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Excludes some non-citizens from services
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Reduces the costs of $ 186 billion
THIS
- The bill would increase American public debt, currently at 36.2 dollars trillion, of $ 3.4 trillion, according to the CBO
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Includes an increase in the debt ceiling of $ 5 trillion
Other provisions
- Remove taxes on firearm silencers
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Gives the government the power to withdraw the status of tax exemption from the organizations considered to support terrorism
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Does not prohibit the regulation of artificial intelligence by states, unlike a previous version of the bill
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Allows the courts to demand that a complainant pay a deposit when he attacks government policies
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Expands tax relief for Native American whale hunters
(Report by Andy Sullivan, edition by Frances Kerry)
