Trump, J.D. Vance and White House
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Passage of Donald Trump’s sweeping tax, health and spending bill was no small feat for Republicans, but selling it to the American people may prove to be tougher, even for a president who built a career on savvy branding.
President Donald Trump’s signature tax and spending legislation is providing short-term clarity for Wall Street but fueling concerns about the long-term health of the US economy, investors say.
Under the final iteration, the so-called Trump accounts are custodial individual retirement accounts for kids, with special rules until the year the child turns 18. For the next few years, they come with $1,000 of seed money from the Treasury Department for newborns. That money would grow tax-deferred, with income taxes due upon withdrawal.
The measure raises taxes on the endowments of the nation's largest universities but not those of private charitable foundations.
Democrats are poised to contest the Republican talking points about the "big, beautiful bill" at every turn, emphasizing the cuts to Medicaid.
The president’s signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire.
Key provisions in the president’s signature legislation will take effect at different times over several years.
The federal policy change raises questions about the electric vehicle market after historic investments and state incentives poured in to build the new $4 billion factory.
Experts are now debating if the elimination will significantly hurt the industry or if solar adoption developed such momentum that it will continue to grow on its own. Trump’s bill won’t go into effect until Dec.