https://www.taxtmi.com/news?id=44435 Republican legislation extends and adds major Tax Breaks-expanding standard deductions, child-related credits, and SALT deductions-while accelerating rollbacks of renewable energy tax credits and adding targeted defence and border spending. To offset revenue losses, the bill imposes work requirements of eighty hours per month for able-bodied adults without dependents to retain Medicaid and SNAP eligibility, expands age cohorts subject to such requirements, and creates administrative funds for DHS reimbursements and a renamed children's savings programme. Nonpartisan estimates forecast increased deficits and reduced health and food benefit participation, with distributional impacts adverse to lower-income households. en-us Thu, 22 May 2025 16:46:03 +0530 Thu, 22 May 2025 16:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=44435 Republican legislation extends and adds major Tax Breaks-expanding standard deductions, child-related credits, and SALT deductions-while accelerating rollbacks of renewable energy tax credits and adding targeted defence and border spending. To offset revenue losses, the bill imposes work requirements of eighty hours per month for able-bodied adults without dependents to retain Medicaid and SNAP eligibility, expands age cohorts subject to such requirements, and creates administrative funds for DHS reimbursements and a renamed children's savings programme. Nonpartisan estimates forecast increased deficits and reduced health and food benefit participation, with distributional impacts adverse to lower-income households. News - Thu, 22 May 2025 16:46:03 +0530 https://www.taxtmi.com/news?id=44435