House Republicans continue to hash out the details of President Trump’s “one big, beautiful bill.” The bill Republicans hope to pass by Memorial Day would extend many provisions in the Tax Cuts and Jobs Act. It would also contain border, energy and defense policies and create new tax breaks promised by Trump on the campaign trail. Lawmakers are debating how to pay for the bill, with one option being to substantially cut Medicaid. President Trump weighed in by proposing a “tiny tax increase for the rich.” He suggested increasing the top income tax bracket from 37% to 39.6% for individuals earning $2.5 million or higher and joint filers earning at least $5 million per year. Stay tuned.
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