Posted on 07/04/2025 10:51:22 AM PDT by Be Careful
Good. They can pass with a simple majority. Expect a ton of them.
Don't you feel better now?
Those of us who listened were told that SS taxes cannot be eliminated in any bill that could be passed with a majority only vote (BYRD RULE). Bills need to get through both houses. The workaround of a 6K tax credit was the best that could be done in this bill with the majorities we have in the house & senate.
This is not a one & done and after midterms with a stronger majority more could be accomplished.
Under the One Big Beautiful Bill, the vast majority of senior citizens — 88% of all seniors who receive Social Security — will pay NO TAX on their Social Security benefits, according to a brand new analysis from the Council of Economic Advisers.
Married seniors who both receive the average $24,000 Social Security income — a total of $48,000 in annual income — will also see deductions that exceed their taxable Social Security income. (ditto single w/24K SS income).
Money limits: Full cut for seniors making up to $75,000 and couples making up to $150,000. The cut goes away fully at $175,000 (single) and $250,000 (joint).
I do not think that means what you think it means.
I asked ChatGPT to summarize
Tax & Revenue Changes
• Makes permanent the 2017 Trump-era individual tax cuts (formerly scheduled to expire end of 2025) .
• Raises SALT deduction cap to $40,000 for earners under $500,000, reverting to $10,000 after five years .
• Introduces new deductions and credits:
• Tips & overtime deduction (capped, expires 2028) .
• Auto loan interest deduction (up to $10,000/year for U.S.-built cars, income-restricted, through 2028) ().
• “Trump Accounts” — tax-advantaged savings for new parents ($1k at birth, up to $5k/year
Chat Gpt summary
Spending & Entitlement Cuts
• Deep cuts to Medicaid and Medicare—largest Medicaid reductions ever, along with work requirements and tighter eligibility .
• SNAP changes: work requirements, higher state error cost-sharing, and administrative burden shifts ().
• Caps student loan borrowing, limits subsidies, and restricts certain loan cancellations ().
• Additional rollbacks include:
• Defunding Planned Parenthood via Medicaid for one year.
• Canceling obesity prevention grants.
• Reducing funding to CFPB and clean energy programs.
Defense & Border Security
• Allocates $150 billion for defense (drones, shipbuilding, cybersecurity, nuclear modernization) and $150 billion for border enforcement and deportations .
• ICE’s funding ramped from ~$10 billion to over $100 billion by 2029
I didn’t feel bad. Good actually. It’s just the process is clear when done right but can become so confusing when done the way our representatives have been executing it. And why they can’t get in front of a camera and explain it is beyond me. It’s like they want it to be a mystery to John Q. Public.
Yep...I just saw where they are figuring to cut things back some...That will be better than nothing, I guess....
Well they can and do. But it won't make it on the regular news.
You can go to U-toob and follow some of the sources there like Doug in Exile, or Benny Johnson. They post daily and often have great guests who throw down the facts and insight in great detail.
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