logo
Trump administration live updates: Senate votes on Republican agenda bill amendments

Trump administration live updates: Senate votes on Republican agenda bill amendments

NBC Newsa day ago
Rep. Dwight Evans, D-Pa., announced in a statement this morning that he won't seek re-election next year.
"After some discussions this weekend and thoughtful reflection, I have decided that the time is right to announce that I will not be seeking re-election in 2026. I will serve out the full term that ends Jan. 3, 2027," said Evans, who made clear that he's in good health.
"I am deeply proud of what I have been able to accomplish over my 45 years in elected office — from revitalizing neighborhoods block by block to fighting for justice, economic opportunity, investments in infrastructure and education," he added. "I cannot express the gratitude that I have for the trust that voters put in me as their voice in both state and federal office. It has been a privilege of a lifetime to serve as their advocate in government.'
Evans, 71, has served in the House since 2016, representing Pennsylvania's 3rd Congressional District, which covers parts of Philadelphia. He's the 10th House Democrat to announce plans not to seek re-election next year or seek other office.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Under intense pressure, House must now decide if Trump's bill is good enough
Under intense pressure, House must now decide if Trump's bill is good enough

BBC News

time6 hours ago

  • BBC News

Under intense pressure, House must now decide if Trump's bill is good enough

After nearly 24 hours of debate - starting yesterday morning and stretching overnight - the US Senate approved Donald Trump's massive tax-cut and spending billPassing by the narrowest of margins, the bill, as it stood on Tuesday, contained key parts of the agenda he campaigned on last celebrated its passage during a visit to a migrant detention facility in Florida. "It's a great bill," he said. "There is something for everyone."But in fact, while lawmakers may have gotten "something" they wanted, they likely faced concessions to achieve that - and ultimately to push the bill through the House on Senator Lisa Murkowski said she worked hard to ensure the bill provided for her state and ultimately voted for it, but was still unhappy. She called the process "rushed"."My hope is that the House is going to look at this and recognise that we're not there yet," she told reporters just outside the Senate floor, moments after the vote. A look at the key items in Trump's 'big, beautiful bill'Watch: Trump's 'big, beautiful bill' triggers Senate face-offThe woman who could bust Trump's 'big beautiful bill'In a game of political ping-pong, the bill now returns to the House, which passed its version of the bill weeks ago. If the narrow Republican majority in that chamber gives final approval, perhaps as early as Wednesday, the legislation can be presented to the president for his it may be a tough pill for some House Republicans to swallow. It includes massive new funding -$70bn - for Trump's immigration priorities. It boosts defence spending and makes the tax cuts Republicans passed in Trump's first term permanent. To offset this loss, it cuts funding for Biden-era environmental programmes and Medicaid, the health insurance programme for low-income Americans. The financial ledger isn't nearly balanced, however, as the package adds more than $3tn to the federal debt and raises the US borrowing authority by $ hard-liners have complained that the Senate watered down some of their original budget cuts. The right-wing House Freedom Caucus said the Senate proposal could add $650bn (£472bn) to the deficit each year. "It's not what we agreed to," caucus members said in a social media post on centrists still are concerned about cuts in the bill, including reductions in federal payments covering health insurance for low-income original House version was a balancing act that kept the various factions within the Republican Party just satisfied enough to vote yes. The Senate version now landing back in their laps may disrupt that the pressure on House Republicans to sign off on what Trump has called his "big, beautiful bill" will be enormous. The president has said he views the legislation as an integral part of his political legacy – a lasting change in government policy that, unlike executive orders, a future president cannot easily undo.

Trump megabill axes $7,500 EV tax credit after September
Trump megabill axes $7,500 EV tax credit after September

NBC News

time6 hours ago

  • NBC News

Trump megabill axes $7,500 EV tax credit after September

A massive tax and spending package championed by President Trump and passed by the Senate on Tuesday would end tax credits for electric vehicles within three months. The legislation, which Republicans are trying to get to the president's desk by July 4, would axe tax breaks for consumers who buy or lease EVs after Sept. 30, 2025. Lawmakers would eliminate a $7,500 tax credit for households that buy or lease a new EV, and a $4,000 credit for consumers who purchase a used EV. 'If you're interested in driving an EV — either new, used or leased — now is the time to act,' said Ingrid Malmgren, senior policy director at Plug In America, a nonprofit advocating for a quicker transition to electric cars. 'This is going to be the summer of the EV, because come the end of September those credits will be gone' if the legislation passes and remains unchanged, Malmgren said. The bill passed the Senate on the narrowest of margins — 51-50, with a final, tie-breaking vote cast by Vice President JD Vance. It now heads to the House for approval. The Senate's timeline to nix the EV tax credits is more stringent than an initial version of the legislation passed in May by House Republicans, who would have ended the tax breaks after Dec. 31, 2025. The House One Big Beautiful Bill Act also exempted certain EVs from that deadline. Tax incentives make EVs more affordable The Inflation Reduction Act, a landmark climate law signed by former President Joe Biden, offered the tax breaks for EVs through 2032. The federal tax incentives aimed to boost uptake of EVs — and reduce the nation's greenhouse gas emissions — by making them more affordable relative to traditional cars with an internal combustion engine. The transportation sector accounts for about 28% of all U.S. greenhouse gas emissions, making it the largest contributor of U.S. emissions, according to the Environmental Protection Agency. Fully electric cars don't emit planet-warming greenhouse gases from their tailpipes because they don't burn fossil fuels. While some emissions may be created when electric cars are built and charged, EVs are 'unambiguously better for the climate' than gasoline-powered cars even when factoring in those life-cycle emissions, according to researchers at the Massachusetts Institute of Technology. The EV premium is shrinking New EVs have historically come with higher price tags than comparable traditional cars, experts said. In May, the average new EV had a price tag around $57,700 before subsidies, while gas cars cost around $48,100, according to Kelley Blue Book data. Used EVs had a price point around $36,000, slightly higher than the $34,000 for used internal-combustion-engine cars, it found. The price gap is shrinking, experts said. Federal tax incentives like the $7,500 federal tax credit 'play a pivotal role in accelerating the break-even point between electric vehicles and gasoline vehicles,' wrote researchers at the University of Michigan in 2024. Despite a higher price tag, EVs may be a better financial deal for consumers over the long haul because maintenance, repair and fuel costs tend to be lower than those for gas cars, experts said. Even if the federal tax credit disappears, state and local tax incentives may still be available for EV buyers, experts said. If Republicans nix the federal tax credit, consumers would need to ensure they have the car in hand by Sept. 30 in order to claim the subsidy, Malmgren said. She recommends opting for the tax break upfront at the point of sale instead of claiming it next year on one's annual tax return.

Senate Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits
Senate Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits

NBC News

time6 hours ago

  • NBC News

Senate Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits

Senate Republicans on Tuesday passed changes to the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump 's multitrillion-dollar spending bill. Passed via the Tax Cuts and Jobs Act, or TCJA, of 2017, there's a $10,000 limit on the SALT deduction through 2025, which has been a pain point for certain lawmakers in high-tax blue states. If enacted, the Senate bill would lift the cap to $40,000 starting in 2025, with the phaseout starting over $500,000 of income. Both figures would increase by 1% yearly through 2029 and the $40,000 limit would revert to $10,000 in 2030. By contrast, the House-approved measure under the One Big Beautiful Bill Act would offer the higher limit for a longer window. The $40,000 cap would begin in 2025, with the same $500,000 income phaseout, and both figures would rise by 1% annually from 2026 through 2033. The Senate's legislation still needs House approval before the final bill can be delivered to Trump's desk. It was unclear Tuesday whether moderate House Republicans would accept the Senate's proposed SALT deduction changes. Sign Up for Our NewsletterYour Wealth Before TCJA, the SALT deduction was unlimited for taxpayers who itemized deductions. But the so-called alternative minimum tax reduced the benefit for some higher earners. While the higher SALT cap lasts longer under the House bill, SALT relief is two-thirds larger in the Senate bill when including alternative minimum tax changes, according to a Saturday analysis from the Committee for a Responsible Federal Budget. Both bills also reduce itemized deductions for certain taxpayers in the 37% income tax bracket, which could lower the benefit of the higher SALT cap. This reduction is bigger in the House bill. How the SALT deduction works When filing taxes, you pick the greater of the standard deduction or your itemized deductions, including SALT capped at $10,000, medical expenses above 7.5% of your adjusted gross income, charitable gifts and others. Starting in 2018, the Tax Cuts and Jobs Act doubled the standard deduction, and it adjusts for inflation yearly. For 2025, the standard deduction is $15,000 for single filers and $30,000 for married couples filing jointly. These could increase under the Senate-proposed tax bill. Under the current thresholds, the vast majority of filers — roughly 90%, according to the latest IRS data — use the standard deduction and don't benefit from itemized tax breaks. Who benefits from the higher SALT cap Raising the SALT deduction cap would primarily benefit higher earners, according to a May analysis from the Tax Foundation. The Senate legislation would also protect a SALT cap workaround for pass-through businesses, which allows owners to sidestep the $10,000 cap. By contrast, the House-approved bill would have ended the strategy for certain white-collar professionals. 'This SALT 'deal' in the latest Senate bill is a nonsensical approach to tax policy,' Chye-Ching Huang, executive director of the Tax Law Center at New York University School of Law, wrote in a post on X on Saturday. 'It preserves (and lessens) a limit on deductions for wealthy taxpayers while ignoring a loophole that allows the wealthiest of those taxpayers to avoid the limit entirely,' she wrote. Weekly advice on managing your money SIGN UP NOW Get this delivered to your inbox, and more info about about our products and signing up for newsletters, you are agreeing to our Terms of Use and Privacy SALT 'deal' in the latest Senate bill is a nonsensical approach to tax HuangExecutive director of the Tax Law Center at New York University Law

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store