US House Republicans' bill would exempt workers' tips from income tax, with exceptions, bill text shows
- Republican bill includes tax break on overtime through 2028.
- SALT deduction cap increased to USD 30k for joint filers (prev. 10k).
- Tax bill creates tax-exempt 'MAGA' savings accounts for kids.
- US biofuel credit to be extended to 2031 under draft tax bill.
- Calls for ending hydrogen tax credit next year.
- Doesn't include millionaire tax bracket.
- Seek "enhanced deduction" for senior citizens by USD 4k, with exceptions.
- Republican tax bill raises debt limit by USD 4tln.
12 May 2025 - 19:43- ForexImportant- Source: Newswires
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