https://www.taxtmi.com/news?id=48510 A federal budget and tax statute combines extended tax cuts and exclusions for tip and Social Security income with deep reductions to Medicaid and food assistance and expanded immigration enforcement. Passed largely along party lines through reconciliation and enacted after narrow congressional votes, the law reverses prior policy choices on Medicaid expansion and renewable energy credits. Nonpartisan fiscal estimates project a substantial increase in the federal deficit and a rise in the number of uninsured, prompting polarized political responses and likely sustained electoral debate. en-us Sat, 05 Jul 2025 05:46:03 +0530 Sat, 05 Jul 2025 05:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=48510 A federal budget and tax statute combines extended tax cuts and exclusions for tip and Social Security income with deep reductions to Medicaid and food assistance and expanded immigration enforcement. Passed largely along party lines through reconciliation and enacted after narrow congressional votes, the law reverses prior policy choices on Medicaid expansion and renewable energy credits. Nonpartisan fiscal estimates project a substantial increase in the federal deficit and a rise in the number of uninsured, prompting polarized political responses and likely sustained electoral debate. News - Sat, 05 Jul 2025 05:46:03 +0530 https://www.taxtmi.com/news?id=48510