estate tax, Beautiful Bill
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Republicans want to sell it. Democrats want to bash it. It’s setting up a showdown over whose message can cut through to voters.
As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).
Analysis by clean energy think tank Energy Innovation found that the bill threatened thousands of clean energy projects, likely resulting in the loss of 760,000 jobs in the sector by 2030. By reducing access to cheaper renewable energy, the OBBBA will also sharply increase household energy bills, the analysts found.
An analysis by a think tank found that annual household energy costs in the state will increase $110 by 2030 and $410 by 2035.