Despite no tax on overtime and no tax on tips being priorities of President Donald Trump that he promised on the campaign trail, Senate Finance Committee Republicans are increasingly looking to scale back these provisions in order to reduce the deficit, Politico reported on Tuesday.
The House version of Trump’s “big, beautiful bill” would restore tax incentives for research and development, business equipment and debt interest through 2029, which the president has signaled that he backs. But Senate Republicans are intent on making them permanent, which would likely add hundreds of billions in debt to the legislation.
To offset that, the senators are considering watering down other tax provisions they consider less “pro-growth” — such as no taxes on tips, no taxes on overtime and tax relief for seniors. These provisions were all promised by Trump on the campaign trail but would cost some $230 billion, according to the Joint Committee on Taxation.
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