Americans will experience the “largest tax increase in history” if Trump’s megabill doesn’t pass, according to the White House, which cited a report from the Council of Economic Advisers. The report claims that the average taxpayer will face a 22% tax hike while an average family of four will see their taxes go up by $1,700 if Trump’s tax cuts aren’t extended. Trump’s bill, nicknamed the “one, big, beautiful bill,” includes a proposition to extend these tax cuts which were signed into law during his first term.
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White House Urges Congress to Pass Trump Megabill
House Republicans are currently split on several issues within the bill, such as the state and local tax (SALT) deduction rate. Other members are concerned that the bill includes too much government spending for services like Medicaid. Following a meeting with Republicans on Capital Hill, Trump added that he would be willing to accept some changes within the bill from Senate members.
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