What's in Trump and Republicans' massive tax and immigration bill? Here's a breakdown for you. I'm the econ policy geek in Congress for @washingtonpost.com. I read the whole bill (really, I did) so you don't have to. www.washingtonpost.com/business/202... Let's thread it out.... 🧵 - ThreadSky

jacobbogage.bsky.social • 23 days ago

What's in Trump and Republicans' massive tax and immigration bill?

Here's a breakdown for you.

I'm the econ policy geek in Congress for @washingtonpost.com. I read the whole bill (really, I did) so you don't have to.

https://www.washingtonpost.com/business/2025/05/13/republican-trump-tax-immigration-plan/

Let's thread it out.... 🧵

Comments

toddgoldsbie.bsky.social•23 days ago

Very pleased these aren't our government's priorities, yet.

trumpstenacity.bsky.social•23 days ago

This budget's most important line items will add ~$226.17 Billion/year to the debt, which is ~3.23%/year, or about equivalent to expected inflation, but still less than Biden's 21.44% inflation over 4 years! Thank you Congress! Make America Fiscally Prudent Again! MAFPA!

mbandman.bsky.social•23 days ago

So what’s the total add to the deficit?

mountainlyons.bsky.social•23 days ago

Depends on many factors - early estimates were 3 to 5 trillion. The CBO laughably showed an unexplained course correction line on its graph the last time I checked. With chaos holding sway, who knows?

policyg.bsky.social•23 days ago

All of us over 50 have to start planning for what to do when there is no government health insurance for seniors. Because it is not going to be around much longer.

otrodia.bsky.social•23 days ago

larrymcva.bsky.social•23 days ago

As usual its all about the tax cuts. Pity we can't afford to have nice things such as airports that function, to name a few.

arletha61.bsky.social•22 days ago

@msnbc.com is stoking fear into its viewer, pointing the finger at the Democrats saying they need to stop trump, as if they could, while djt tries to make himself the riches man in America through his presidency and the Republicans in Congress get a pass from @msnbc.com for doing nothing.

sandylewiswilson.bsky.social•23 days ago

Trump screwed us Social Security tax cuts. go figure he wants to fuck the old people.

atsnlg.bsky.social•23 days ago

I don't think so. Remember when he said that Jeffrey Epstein like's 'em (girls) young, and so do I? ;)

rabbir.bsky.social•23 days ago

What are they trying to do to student loans?

mjiyq2623.bsky.social•23 days ago

I *think* it’s just that they are aggressively going after/collecting from people in default and people who had been deferring or in forbearance.

I think everyone also had to resubmit for income based repayment calculations.

rabbir.bsky.social•23 days ago

I’m not sure that’s it. I’ve read a bunch of articles prior to the release of this proposal that discussed many potential and largely bad changes

mjiyq2623.bsky.social•23 days ago

I was mainly guessing. But, I really hope not.

I had seen that they were considering/trying to do away with income based repayment and public service forgiveness, but, to my knowledge, those were rescinded as they were part of the terms when most of us signed our loan agreements.

rabbir.bsky.social•23 days ago

Political wishful thinking has unfortunately been suspended until 2029. There’s two elements to this: how much can they screw up existing loans and how much can they prevent people from getting education going forward?

mjiyq2623.bsky.social•23 days ago

I absolutely get where you’re coming from. I’m trying to not doom cast (not saying you are) as I spent 11/2016 until 2/2021 glued to my phone. I cannot survive that again.

I assume you’re probably correct that it will be something awful, but I am hoping for not terrible, expecting awful.

gryphonbones.bsky.social•23 days ago

I have the same question

kellyecrane.bsky.social•23 days ago

Good thread that makes clear some of the confusing statements, thanks!

angelenobob.bsky.social•23 days ago

I can't find it, less or more than under Biden?

jsunrise.bsky.social•23 days ago

How does this fit in reconciliation? I thought reconciliation had to be tax/budget only, this seems like a grab bag far afield from that

mysticlee123.bsky.social•23 days ago

Vigilantism based in grief is the most dangerous of all.

sdptsue.bsky.social•23 days ago

So many questions. I like increasing the standard deduction, but why no tax on overtime?

kellyecrane.bsky.social•23 days ago

Because he promised it on the campaign trail to buy votes in the rust belt.

bicycle.bsky.social•23 days ago

overtime encourages an owner’s existing workforce to work more hours which reduces the need to hire additional workers. eliminating the tax on those wages tips the scales even further.

anthonymoss.bsky.social•23 days ago

The chart counts spectrum auction as a cost, which appears to be an error.

eatingmyshorts.bsky.social•22 days ago

No. It’s shown as an increase in revenue.

sundazed.bsky.social•23 days ago

Fuck this bill/budget

citychicken.bsky.social•23 days ago

How does cutting climate spending increase the debt by $677.8 billion over ten years? I didn't see an explanation in the article.

robinthereanimato.bsky.social•23 days ago

I had the same thought. It seems to have been an error, as that and a couple other items have now switched sides on the diagram in the article

jacobbogage.bsky.social•23 days ago

Yeah I screwed it up. I’ve fixed it. Thanks for catching and apologies for the error.

mountainlyons.bsky.social•23 days ago

I think it has to do with how Biden set up the climate spending which created a return on investment, but I may be lying.

jacobbogage.bsky.social•23 days ago

Some folks have pointed out some errors in the original chart.

I fixed them here, and want to stress that everything in the story is accurate. I didn't enter a (-) sign before some line items.

We'll post a correction in the story, and the chart there is accurate.

Here's a correct version.

jcreek.bsky.social•23 days ago

Is someone calculating the cost to communities if Medicaid is cut? Higher ER usage, loss of employment due to caring for a family member, etc?

trumpstenacity.bsky.social•23 days ago

Guess what able-bodied people like me do - even when we're at retirement age, when our Medicaid is cut to $0? We acquire additional sources of income from working full-time or P/T! #JustDoIt. Disabled folks' &/or people without lots of cash & non-cash assets' Medicaid won't be cut. TY GOP! MAGA

shadowbadger.bsky.social•23 days ago

Work until you die. Not rest for the poor, eh?

trumpstenacity.bsky.social•23 days ago

I'm doing it. If I can then virtually everyone can. Biden worked into his 80s and think how much you loved him for doing so. I say just until 70ish.

atsnlg.bsky.social•23 days ago

Translation: I'm a masochist, so everyone else should be one, too. (PS: Biden had a better job and a higher-paying one than most.)

maverick72.bsky.social•23 days ago

Budgets are an expression of one’s priorities. This shouldn’t come as a surprise. It’s about cutting taxes at the expense of Medicaid & SSA. So, he doesn’t value the elderly &/or the less fortunate. If we didn’t know before, we should know by now.🤷🏻‍♀️

jacobbogage.bsky.social•23 days ago

The GOP is moving this bill through reconciliation. For that process, each relevant committee writes its own bill that adheres to certain spending caps or floors for cuts.

Those get cobbled together by the Budget Committee, and the House votes on it.

We're almost at the cobbling together stage.

jacobbogage.bsky.social•23 days ago

This is the legislation that Trump calls his "big, beautiful bill."

Its main purpose is to extend the 2017 Tax Cuts and Jobs Act. That law cut tax rates for every income bracket, but concentrated the most gains among the wealthiest folks.

The individual portions expire at the end of 2025.

lennig.org•23 days ago

Seems irresponsible when National Debt is out of control

jacobbogage.bsky.social•23 days ago

But this bill -- being, ya know, "big" and "beautiful" -- includes a million other things.

Immigration restrictions
New taxes and tax cuts
A ton of military spending
Oil and gas extraction
+ more

I pulled out the most important (to me) policies. Lets walk through 'em.

jacobbogage.bsky.social•23 days ago

On TCJA

1️⃣ Extends the TJCA rates

2️⃣ Increases the standard deduction:
- Starting in 2025, the deduction increases by $2K for married couples and $1K for single filers.
- TCJA had already doubled the standard deduction

https://www.washingtonpost.com/business/2025/05/13/republican-trump-tax-immigration-plan/

jacobbogage.bsky.social•23 days ago

The tax "goodie bag."

1️⃣ No tax on tips
2️⃣ No tax on overtime
3️⃣ No tax on auto interest

Trump promised all of these on the campaign trail, and lo and behold, they're in the bill.

https://www.washingtonpost.com/business/2025/05/13/republican-trump-tax-immigration-plan/

But one is missing...

dlknowles.bsky.social•22 days ago

Non-citizens can have social security numbers

jacobbogage.bsky.social•23 days ago

This is the one that's missing: No tax on Social Security benefits.

Trump promised this again and again (and again) on the campaign trail and since taking office.

**No tax on Social Security is not in the bill.**

The GOP replaced it with this, an extra $4K in the standard deduction for seniors.

citizen12345.bsky.social•23 days ago

Is no tax on social security = senior bonus?

atsnlg.bsky.social•23 days ago

Tax on SS will remain in effect. I assume that the extra $4,000 in the standard deduction for seniors is the big "bonus." (Compared to no tax on many seniors' SS, it's a drop in the bucket.)

suzylovesresding.bsky.social•23 days ago

Only if you get enough in Social Security to qualify for taxes. But some people who's only income is their benefits, it's a slap in the face.

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