Vance Touts Tax Cuts, Child Savings Program in Trump’s Megabill

5Mind. The Meme Platform

The vice president visited a machine shop in West Pittston, Pennsylvania, to sell Trump’s new legislation to key voters.

Vice President JD Vance visited northeast Pennsylvania on July 16 to make the Trump administration’s first big pitch to voters on President Donald Trump’s tax cuts and budget legislation, the One Big Beautiful Bill Act.

Vance, who cast the tiebreaking vote in the Senate to send the bill to Trump’s desk on Independence Day, touted the legislation’s tax breaks and funding for energy production and a children’s savings program. He also cast Democrats as enemies of tax breaks, and thus of the working class, because none supported the legislation in Congress.

Democrats have criticized the legislation for its funding cuts and changes to Medicaid and the Supplemental Nutrition Assistance Program, also known as food stamps, and will likely use it as ammunition against Republicans next year in closely contested congressional races. One of those contests will likely occur in the same region of Pennsylvania that Vance visited on July 16.

“We worked so hard to get this legislation passed to cut your taxes, to prevent big tax increases, to make it easier to save and invest right here in this great country that all of us love,” Vance said while speaking at a machine shop in West Pittston, Pennsylvania.

The vice president also touted the legislation’s new tax deductions for overtime.

“Now, thanks to President Trump’s leadership, if you work overtime, the federal government is not going to take a dime of that overtime,” Vance said. “You earn that money, you ought to keep it in your pocket.”

The legislation created a new children’s savings program called Trump Accounts for babies born in the next four years, which could offer a $1,000 deposit from the Treasury Department and essentially function as a tax-deferred investment account in which parents can contribute up to $5,000 a year per child.

Once a child reaches 18, the money can be withdrawn to be used for a home down payment, for education, or to start a small business. But if it’s used for something else, it’s taxed at a higher rate.

Vance said the initial $1,000 could “compound and build something” over 18 years of accrued interest.

“When they are ready to start off on a new life … when they’re ready to start a small business or to go into higher education, they’ve actually got real wealth built right here in the United States of America,” he said. “And that’s thanks to the One Big Beautiful Bill.”

By Jacob Burg

Read Full Article on TheEpochTimes.com

Contact Your Elected Officials
The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Hands Off the Kids: A Future Worth Defending

There is a war against American children. Not a metaphorical war, not a poetic exaggeration, but a deliberate, coordinated assault on innocence itself.

The Use of Women in Today’s Political War

Last month President Donald Trump pardoned 77 people who...

The Russian-US “New Détente” Could Revolutionize The Global Economic Architecture

A renewed Russian-US “New Détente” could reshape the global economy by reducing China’s central role and elevating Russia through its key strategic resources.

They Do Exist!

We are a nation of immigrants and a nation of laws; ignoring one for the other is compassionate to the point of death.

Funding Dissent: Smash for Cash – A Breakdown of Manufactured Outrage in Modern America

Today a disturbing trend has emerged. Protests are no longer always organic expressions of public will, but staged performances.

Appeals Court Halts Boasberg’s Contempt Proceedings Over Deportations

A federal appeals court halted Judge Boasberg probe into claims the Trump admin defied his blocks on deporting suspected Venezuelan gang members.

2.5 Million Illegal Immigrants Deported Under Trump Admin: DHS

More than 2.5 million illegal immigrants have left the U.S. under the Trump administration, a “record-breaking achievement” in a year, the DHS said.

Americans Could See up to $2,000 Tax Refunds Next Year, Says Treasury Secretary

Treasury Sec. Scott Bessent says working Americans will receive “very large refunds” next year as new tax cuts from the One Big Beautiful Bill Act take effect.

Federal Judge Orders Release of 2019 Jeffrey Epstein Grand Jury Records

Federal judge in New York orders release of grand jury materials from 2019 investigation of deceased sex offender Jeffrey Epstein.

Trump Says He Is Pardoning Former Colorado County Clerk Tina Peters

Trump is pardoning Tina Peters, a former Colorado county clerk convicted of election machine tampering in the aftermath of the disputed 2020 election.

Trade Chief Jamieson Greer Indicates Progress on US–India Trade Deal

U.S. Trade Representative Jamieson Greer hinted that the United States and India are making progress on a deal.

Trump Touts Lower Prices, Bigger Paychecks in 1st Stop of National Tour

President Trump told an energetic crowd at a Dec. 9 rally that his administration’s policies are lowering the cost of living nationwide.

Trump Announces $12 Billion Farm Aid Program

Trump made the announcement at a roundtable at the White House to discuss his economic aid package for American farmers.
spot_img

Related Articles

Popular Categories

MAGA Business Central