US House of Representatives Donald Trump’s Fiscal Plan that includes 5% tax to remittances

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US House of Representatives Donald Trump’s Fiscal Plan that includes 5% tax to remittances

The plan, baptized by Trump as “the great and beautiful bill,” was approved with a majority from 215 to 214 After a long night session, and after conservative Republican congressmen, contrary to the legislation because it considers that the deficit increases, they held several meetings with the White House to reach an agreement.

The final vote was made early in the morning, to closure of a marathon negotiation Of more than 24 hours, which began shortly before noon on May 21, with the Republicans focused on closing differences.

Now he will pass to the Senate, where he will be debated by the Republican majority, with the intention to reach Trump’s oval office before the symbolic July 4American independence day.

The megaproject of law includes the extension of Trump’s tax exemptions during its first mandate (2017-2021) and adds new sales, such as Exemptions to tips already payments to buy cars manufactured in the United States.

Includes a Increase in funds for border management and the application of the strict immigration policy of the Republican President, as well as restrictions on the food and medical health assistance programs, among the most controversial issues in the negotiations.

It also stipulates an increase in Exemption limit to local and state taxesanother of the discord between legislators.

According to the most recent projection of the Congress Budget Office (CBO), the bill will add US $ 2.4 billion in 10 years to national debtwhich is currently estimated at more than US $ 36 billion.

To compensate for this expense, legislation seeks to cut financing to social security programs in more than US $ 1 billion in a decade.

Analysts warn that the new legislation could impose cuts of about US $ 500 billion to the Medicare to maintain the deficit within the legal margins set by Congress.

In accordance with the proposed limitations, Some 8.7 million people in the country could run out of medical coverage of the Medicaid, according to the CBO, an office without political affiliation that carries the Capitol’s accounting.

Trump and the president of the House of Representatives, Republican Mike Johnson, have insisted that these cuts are aimed at Finish coverage to “illegal migrants that are used ”of these aid.

These restrictions to Medicaid have been one of the points of disagreement more acute between the centrist wing and the conservative of the Republican party. Conservatives ask for more aggressive and immediate cuts, while moderates manifest concern about the effects they would bring to their districts.

These disagreements threatened to delay the approval of the megaproject of law in the Chamber and caused warnings by the Republican president, who visited Congress to meet with the members of his party contrary to the proposal.

On Wednesday afternoon, Trump summoned the legislators still reluctant to accept legislation and, hours later, the undecided changed their position.

The plan also includes a controversy 5% tax to remittances sent outside the countrywhat has caused new criticisms of the president of Mexico, Claudia Sheinbaum, who considers it “an injustice” and a “discriminatory” action that would affect Mexican migrants in the US.

It also seeks to cut clean energy programs promoted by former president Joe Biden (2021-2025) and increase taxes to universities.

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