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The Missouri Republican highlighted how the 2017 Tax Cuts and Jobs Act raised this popular annual credit from $1,000 to $2,000, but will expire at the end of the year if Congress takes no action.
If new tax legislation passes, half a million kids could be lifted out of poverty by 2025. Bipartisan tax deal could lift 400,000 kids out of poverty—and give Biden a win in an election year ...
The House on Wednesday passed the Laken Riley Act, sending the immigration-related bill to President Trump’s desk in what is poised to be his first legislative victory since returning to the ...
Only one Democrat did not vote for the bill, while 34 Republicans voted against it. [ 46 ] [ 48 ] Early the next morning, in the Senate, the bill passed by an 85–11 vote, [ 49 ] and Biden signed the bill later that day, funding the government through March 14, 2025. [ 50 ]
Following the 2024 elections, the Republican Party retained its slim majority in the House, won the majority in the Senate, and with Trump's second inauguration on January 20, 2025, have an overall federal government trifecta for the first time since the 115th Congress in 2017, which was in session during Trump's first term.
Here are some ways your taxes may change in 2025 and beyond. Tax benefits for small businesses. The TCJA lowered the corporate tax rate for businesses to a flat 21 percent, from a graduated system ...
Last Friday, we got a first look at how the closely-divided U.S. House of Representatives may have to operate in 2025. Republican Rep. Mike Johnson held onto the speakership by the skin of his ...
Republicans retained their slim majority in the House of Representatives, despite losing a seat, during the 2024 United States House of Representatives elections. [17] With a two seat larger majority, in the January 2023 Speaker of the United States House of Representatives election, a faction of the Republican majority, mostly represented by the Freedom Caucus, refused to support Republican ...