Bloomberg News WASHINGTON — The House narrowly passed a massive tax and spending bill, capping months of deliberations and sending President Trump’s signature legislative priorities to his desk, where he is expected to swiftly sign it, symbolically, on July 4. The bill passed in a 218-214 vote, mostly along party lines. Reps. Thomas Massie of […]
GOP megabill cutting CFPB funding goes to Trump’s desk Read More »
President Donald Trump’s “Big Beautiful Bill” is headed back to the House for reconciliation after passing the Senate with a tiebreaking vote from Vice President JD Vance. The 1,116-page multitrillion-dollar bill contains some key changes for older Americans, including a senior bonus tax deduction that would offset taxes on Social Security. But the bill also
What’s in Trump’s ‘Big Beautiful Bill’ for seniors? Read More »
Senate Republicans on Tuesday advanced President Donald Trump’s sprawling “Big Beautiful Bill” in a last-second flurry that required Vice President JD Vance to cast a tie-breaking vote. All 47 Senate Democrats voted against the bill, with Republicans Susan Collins, retiring Thom Tillis and Libertarian deficit hawk Rand Paul joining them. The bill now goes back
Housing industry cheers Senate passage of the ‘Big Beautiful Bill’ Read More »
Senate Republicans are coming around to the $40,000 cap on state and local tax deduction key House lawmakers demand in President Donald Trump’s massive tax package, but they want to lower the income threshold. Senator Markwayne Mullin of Oklahoma, a key negotiator, said he plans to make the offer late Monday to House Republicans from
Senate GOP to offer $40K SALT cap with lower income threshold Read More »
Growing fears of a retirement crisis in the U.S. are no secret as Americans face a future that potentially includes fewer Social Security benefits. But the uncertainty of Social Security is not the only thing that seniors should consider as they seek to safeguard their financial well-being. Over the weekend, The New York Times detailed
IRS stipulation could have consequences for seniors in a declining stock market Read More »
On the surface, Seattle’s housing market looks like any other in the country. The inventory of single-family homes for sale is up substantially year over year. New listings are up slightly, sales remain subdued and home prices aren’t moving much. That’s the story in the majority of housing markets. But Seattle is wrestling with a
Seattle housing market wrestles with crippling affordability concerns Read More »
House Speaker Mike Johnson said he’s pressuring Senate Republicans to refrain from changing a deal to increase the state and local tax deduction cap to $40,000, pushing back on President Donald Trump’s willingness to scale back the write-off. “I’ve asked them to modify it as little as possible because I’ve got a very delicate balance
Johnson urges Senate to minimize changes to $40K SALT deal Read More »
Senate Majority Leader John Thune believes the deal that led the House to increase the maximum deduction for state and local taxes to $40,000 will have to be changed in his chamber, according to his office. The Senate has begun deliberations over President Donald Trump’s massive “Big Beautiful Bill” that narrowly passed the House on
House SALT deal must change, Senate leader says Read More »
President Donald Trump said his massive tax package is close to being finalized, having notched a deal over the state and local tax deduction, but the White House has yet to win over a faction of conservatives who want more austere spending cuts. “We’re doing very well. It’s very close,” Trump told reporters Wednesday. House
Trump says tax bill ‘close’ as holdouts threaten to sink it Read More »
As Congress continues its effort to rewrite major portions of the tax code, the National Association of Realtors (NAR) unveiled new polling showing just what the American people are looking for in the legislation. The national survey shows overwhelming bipartisan support for tax provisions that strengthen homeownership, support small business owners and the middle class,
NAR: Americans want a tax plan that supports the American dream Read More »