House Republicans release tax plan for Trump's 'big, beautiful bill'

House Republicans released a portion of President Donald Trump’s tax agenda late on Friday evening, bringing them one step closer to completing the commander-in-chief’s "big, beautiful bill."

The legislation includes an increased child tax credit (CTC), a higher threshold for estate tax liability – what Republicans have referred to as the "death tax" – and several other measures.

It also lays the groundwork for making Trump’s 2017 Tax Cuts and Jobs Act (TCJA) permanent. Republican leaders had warned that failing to do so would lead to a tax increase of over 20% for millions of Americans, if TCJA were allowed to expire at the end of this year.

There is no information in the bill so far about state and local tax (SALT) deduction caps, which have been a Read Entire Article