US House Republicans tax bill:
- Would exempt workers from tips from income and tax with exceptions (through 2028
- Includes exemption on workers overtime pay with exceptions
- Enhanced deduction for senior citizens by $4000 with exceptions
- Raising cap on state and local tax deduction (SALT deductions) to $30,000 from current $10,000 with exceptions
- does not include millionaire tax bracket
- Republican tax bill raises debt limit by $4 trillion
This article was written by Greg Michalowski at www.forexlive.com.
