House Republicans are pushing a $237 billion tax cut package, while Democrats fight to maintain green energy priorities. See potential biases and similarities in coverage from ap, washtimes and reuters:
House Republicans are pushing a $237 billion tax cut package, while Democrats fight to maintain green energy priorities.The Republican package would increase the standard tax deduction by $2,000 for single filers and $4,000 for couples in 2024 and 2025; permanently raise the threshold for businesses to claim depreciation deductions from $1 million to $2.5 million; and eliminate a requirement for third-party payment processors, such as PayPal, to report all transactions above $600.
Cuts would be funded by eliminating $216 billion in electric vehicle and renewable energy tax breaks passed last year."While Americans are sheltering inside to avoid the fallout of climate-spurred wildfires, Republicans think now is a good time to repeal the largest climate investment in our history to pay for their corporate handouts," said Rep. Richard Neal , the Ways and Means Committee's top Democrat.
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