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House Approves Bill for Permanent Trump Tax Cuts

5/17/2025

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Summary

Story summary

The House Ways and Means Committee approved a Republican bill to make Trump's 2017 tax cuts permanent.
It proposes an average tax cut of $1,300, a $4,000 deduction for seniors, and higher standard deductions.
The bill temporarily extends the Child Tax Credit and removes taxes on tips and overtime pay.
Democrats oppose it, citing cuts to Medicaid and food stamps, with some tax benefits expiring after 2028.

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Story summary

The House Ways and Means Committee approved a Republican bill to make Trump's 2017 tax cuts permanent.
It proposes an average tax cut of $1,300, a $4,000 deduction for seniors, and higher standard deductions.
The bill temporarily extends the Child Tax Credit and removes taxes on tips and overtime pay.
Democrats oppose it, citing cuts to Medicaid and food stamps, with some tax benefits expiring after 2028.