House Republicans unveil details of Trump tax plans

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Tue, May 13, 2025

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House Republicans unveil details of Trump tax plans | CNN Politics

^{Published on 2025-05-12 22:40:37 -}

House Republicans on Monday unveiled one of the most critical pieces of President Donald Trump's domestic agenda: How it plans to spend trillions of dollars on tax breaks.

The article from CNN dated May 12, 2025, discusses the House GOP's new tax plan, which is designed to extend and expand several tax cuts originally implemented during the Trump administration. The plan aims to permanently extend the individual tax cuts set to expire in 2025, increase the standard deduction, and introduce new tax credits for families and small businesses. House Republicans argue that these measures will stimulate economic growth and provide relief to middle-class families. However, Democrats criticize the plan as a giveaway to the wealthy, pointing out that it could significantly increase the federal deficit. The proposal has sparked intense debate in Congress, with its future uncertain as it faces opposition in the Senate.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/05/12/politics/house-gop-tax-plan-trump ]

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