. In recent days, Argentine stocks and bonds have plunged.
House Republicans have been huddling behind closed doors, working out final provisions in the 389-page tax portion of the package.The legislation proposes to boost the standard deduction many Americans use by $2,000, to $32,000 per household, and increase the child tax credit from $2,000 to $2,500 for four years. It adds a new requirement focused on preventing undocumented immigrants from benefiting from the credit even if the children are U.S. citizens, which the Center on Budget and Policy Priorities, a liberal think tank, estimates would affect 4.5 million children who are U.S. citizens or lawful residents.
It would also increase the estate tax exemption, which is now $14 million, to $15 million and index future increases to inflation.As for the president’s promises, the legislation includes Trump’s “no taxes on tips” pledge, providing a deduction for those workers in service industry and other jobs that have traditionally relied on tips. It directs the Treasury secretary to issue guidance to avoid businesses gaming the system.The package also provides tax relief for automobile shoppers with a temporary deduction of up to $10,000 on car loan interest, applying the benefit only for those vehicles where the final assembly occurred in the United States. The tax break would expire at the end of Trump’s term.
For seniors, there would be a bolstered $4,000 deduction on Social Security wages for those with adjusted incomes no higher than $75,000 for individuals and $150,000 for couples.But one hard-fought provision, the deduction for state and local taxes known as SALT, appears to be a work in progress. The legislation proposes lifting the cap to $15,000 for single filers and $30,000 for couples, but with a reduction at higher incomes — about $200,000 for singles and $400,000 for couples.
“Still a hell no,” wrote Rep. Nick LaLota, R-N.Y., on social media.
Meanwhile, dozens of House Republicans have told Johnson and GOP leaders they“We didn’t expect the result that we had today,” Hamilton told British broadcaster Sky Sports, adding that it had been “tough to swallow” when he and teammate Charles Leclerc both qualified outside the top 10 the day before.
“I felt I won with the car, and I think you could probably see that. It felt so great to finally get the setup right,” he added. “I mean, ecstatic. I was hoping for some more laps. It would have been great to have challenged for a podium.”The Ferrari fans cheered Sunday as Hamilton fought his way up through the field from 12th on the grid and winced when Leclerc came close to colliding with Williams’ Alex Albon.
Hamilton managed to get past both Albon and Leclerc in the aftermath, putting him on course to finish fourth. Still, it wasn’t the kind of result which Hamilton, Ferrari or their fans had hoped for when the British driver signed for the Italian team last year.It’s been nearly two months since Hamilton’s stunning win in an F1 sprint race in China — followed by a