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Speaker Mike Johnson @SpeakerJohnson - The One Big Beautiful Bill delivers historic relief to American families.
Voting AGAINST it means American families and small businesses will be hit with the largest tax hike in U.S. history when the Trump tax cuts expire:
- A $4 trillion tax increase, the largest in US history
- Increasing taxes for 62% of Americans
- A 22% tax increase for the average taxpayer
- An extra $1,700 in taxes for the average American family of four
- Taxes on tips and overtime, preventing those workers from receiving a $1,700 tax cut
- Blocking tax relief for middle and low-income seniors
- Eliminating 6 million jobs
- Cutting the Child Tax Credit in half for 40 million families
- Slashing the guaranteed deduction in half for 91% of all taxpayers
- Increasing the federal tax rate to 43% for 26 million small businesses
- Bringing the Alternative Minimum Tax back for 8 million taxpayers
- Cutting the Death Tax Exemption in half for 2 million family-owned farms
- Losing $1 trillion in GDP
- Stopping families from receiving $1,000 in a savings account when they have a child