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US Politics

Republicans forge their tax bill in Trump's image, with 'MAGA accounts' and more

ABC News
Summary
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73% Informative

House Republicans are in the final rounds of negotiations over a sweeping budget plan that has been significantly influenced by President Donald Trump 's priorities.

Legislation realizes many of Trump 's campaign promises, including ending taxes on overtime and tips for many workers.

New tax-free 'MAGA account' would contribute $ 1,000 to children born in his second term.

The president "is much more engaged in directing what happens than the first time because he and the leadership of Congress in 2017 were not seeing eye-to-eye," Scalise said.

Republicans are eager to press ahead and get the tax package to the Senate , with hopes of getting it on Trump 's desk by the Fourth of July .

Democrats have worked to mobilize public opposition to the bill, decrying it as a giveaway to the rich paid for with cuts to healthcare.