Trump, Beautiful Bill and House of Representatives
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In a surprising move, the U.S. Senate just passed the “No Tax on Tips Act,” by a vote of 100-0; no senator on either side of the political aisle objected. If the bill becomes law, it could mean that millions of tipped workers get to keep more of what they earn,
Polling suggests no taxes on tips is a popular idea across party lines, but critics say the proposal will benefit few lower-income workers.
The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing a key campaign promise of President Trump’s, with the help of Senate Democrats. Sen. Jacky Rosen (D-Nev.) brought the No Tax on Tips Act to the floor with the expectation that it would be blocked,
A sizable tax break could be coming for tipped income, but the economic knock-on effects could be damaging.
Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.
How would the "No Tax on Tips" provision work? Called the "No Tax on Tips" provision within the House bill, the rule would create a new tax deduction that eliminates federal income taxes on tips ...
"Whether it passes free-standing or as part of the bigger bill, one way or another, no tax on tips is going to become law and give real relief to hard-working Americans," Sen. Ted Cruz, R-Texas., said from the Senate floor on Tuesday.
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Explícame on MSNPasses first approved 'One Big Beatifull Bill' tax change with bipartisan supportIn a rare display of bipartisan unity, the U.S. Senate has unanimously passed the 'No Tax on Tips Act,' marking the first step in the ambitious 'One Big Beautiful Bill' tax reform championed by President Donald Trump.