Republicans, gambling tax
Digest more
Trump, Senate and SALT
Digest more
Both the House of Representatives and the Senate have launched efforts to undo the change to the tax laws regarding gambling. Via Joey Cappelletti of the Associated Press, an effort in the Senate to quickly fix the situation has failed.
3don MSN
A group of Senate Republicans, including Utah Sen. John Curtis, negotiated slower phaseouts for clean energy tax incentives, but a new Trump executive order puts that provision in question.
The Senate budget bill would have imposed an excise tax on certain wind and solar projects with foreign materials.
The Senate also pulled out a change to the Pell Grant program, which provides federal aid to low-income students to attend colleges and universities. Right now, students are considered full time and qualify for the maximum amount of aid if they take 12 credits a semester.
10don MSN
The $40,000 cap would begin this year, with the same $500,000 income phaseout, and both figures would rise by 1% annually from 2026 through 2033.
Senate Republicans hope they are hours away from passing their massive tax and immigration bill. But the outcome is far from certain.
The latest version of the Senate's massive budget bill that the Senate is racing through for a vote as soon as Saturday deals a fatal blow to the use of tax credits in place since 2005 to spur more wind and solar energy and would set a new tax on those projects for the first time,
Senate Majority Leader John Thune says Republicans “got the job done” in passing President Donald Trump’s big bill of tax breaks and spending cuts.