Expands health savings accounts to give Americans greater choice and flexibility in how they spend their money.
Stephen Moore: Unleash Prosperity Hotline – We hope our conservative friends in the House are paying attention. In addition to preventing a $4 trillion tax hike, both bills contain these hidden gems that we’ve waited a long time to achieve:
- Implements work requirements for able-bodied Americans receiving taxpayer-funded benefits. The Senate expanded Medicaid work requirements to apply not just to able-bodied childless adults, but also to parents of children over the age of 14.
- Reverses electric vehicle subsidies set by radical climate activists.
- Opens federal lands and waters to oil, gas, coal, and mineral leasing.
- Extends tax relief for small businesses by making the 20% 199A exclusion permanent.
- Renews and expands 100% immediate expensing for equipment and machinery. The Senate made these extensions permanent, rather than the House's temporary extension.
- Increases the endowment tax on large universities. The Senate version has a rate of 8%; we preferred the House's 21%.
- Cancels Biden's illegal, unfair student loan bailouts.
- Requires states to pay a higher match for food stamps and strengthens work requirements.
- Expands health savings accounts to give Americans greater choice and flexibility in how they spend their money. After removing all HSA provisions in the first version of the Senate bill, some were added back before final passage, including making telehealth coverage permanent, bronze and catastrophic exchange plans eligible, and allowing HSAs to cover direct primary care.
- Incentivizes school choice scholarships that empowers American families and students to choose the education that best fits their needs. The Senate version includes scholarships only in states that opt in. We will name and shame the states that do not.
- Ends requirement that Venmo, PayPal, and others report transactions over $600 be reported to the IRS.
- Holds universities financially accountable to the government on defaulted federal student loans.
- Increases timber sales on federal lands. The Senate opens up 7 million acres v. the House's 10 million.
- Authorizes the sale of expanded spectrum to strengthen rural broadband and secure America's technological dominance.
Everyone knows that the "One Big Beautiful Bill" lowers the tax burdens on Families & Businesses. It also averts a $4 trillion dollar tax increase starting next year.
That's enough reason to celebrate heartily – but expect the U.S. Economy to grow over 3% in the years ahead, which will lighten the burden of our National Debt.
Is it the most significant consecutive victory in modern times?
It may just be.
That's enough reason to celebrate heartily – but expect the U.S. Economy to grow over 3% in the years ahead, which will lighten the burden of our National Debt.
Is it the most significant consecutive victory in modern times?
It may just be.
Steve Moore – a former Wall Street Journal Editorial Page writer, Chief Economist for The Texas Insider, and a former Senior Economic Adviser to Donald Trump – is a Senior Fellow at both FreedomWorks and the Heritage Foundation. Along with Steve Forbes & Art Laffer, he is Co-Founder of the Committee to Unleash Prosperity. Using compelling charts, videos, and maybe even a little humor, Moore and the Committee's free Daily Newsletter provides information not readily available anywhere else – short and timely inside updates on the economy, the D.C. political landscape, and numerous other issues that help you stay informed and allow you to be the smartest person in the room.
