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The Build Back Better Act, which passed the House on September 27, 2021, was used by the Senate as the legislative vehicle for this legislation. On August 6, 2022 Senate Majority Leader Chuck Schumer proposed an amendment which would replace the text of the previously passed bill with the text of the Inflation Reduction Act of 2022.
House speaker Nancy Pelosi speech of November 2021 comparing the Build Back Better Act and the tax act of 2017. House Republicans have written follow-on bills that would extend the individual tax cuts beyond their current expiration date, simplify the rules for Individual Retirement Accounts, and add new tax deductions for small businesses. [287]
More than two dozen House Republicans are asking President-elect Donald Trump to terminate the Internal Revenue Service's free direct tax-filing system as soon as day one of his presidency.
In the 2022 midterm elections, the Republican Party won control of the House 222–213, taking the majority for the first time since the 115th Congress, while the Democratic Party gained one seat in the Senate, where they already had effective control, and giving them a 51–49-seat majority (with a caucus of 48 Democrats and three independents).
W hen Republicans gained control of the House in November 2022, many in Washington wondered how they would be able to govern effectively with one of the slimmest majorities in history. Some ...
House Speaker Mike Johnson (R-La.) said this week he expected the next Congress to be even more productive than the last time Republicans had unified control of Washington, in 2017, when their one ...
To comply with the Byrd Rule, the tax cuts contained sunset provisions, meaning that, absent further legislation, tax rates would return to their pre-2001 levels in 2011. [29] Portions of the Bush tax cuts were made permanent through the American Taxpayer Relief Act of 2012, though some of the tax cuts for high earners were not extended. [30]
What we learned from the balance of Congress after 2020 and 2022 showed that when it comes to the House, the consequences aren’t always what you might expect If Republicans hold the House, Trump ...