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Millions of low-income Americans, including families with children, could lose their food stamp benefits under House Republicans’ newly passed tax and spending cuts package, according to a Congressional Budget Office analysis released Thursday.
U.S. Rep. Elise Stefanik said she was the “deciding vote” on a megabill that quadrupled the maximum state and local tax deduction.
There’s a stark contrast between the effects on high earners and those on low-income households in a sprawling legislative package House Republicans passed Thursday.
California Republicans were pleased that lower- and middle-income residents will be able to deduct more of their state and local taxes, or SALT. The deduction, now capped at $10,000, would rise to $40,000 for those with taxable incomes of less than $500,000.
We highlighted the substantive changes made by House Republicans to secure the support of several holdout members.
Thursday morning's vote is already at the center of ads in swing districts, as Democrats and Republicans battle for control of the House in the midterm elections.
Immigrants and wealthy universities, as well as foreign companies, would see higher taxes under the House-passed bill.
The measure, passed by the House, would roll back incentives for people to buy electric vehicles and for automakers to make them in the U.S.