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Once a child reaches 18, the money can be withdrawn to be used for a home down payment, for education, or to start a small business.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.

Ring That Bell

If I could travel back in time to 1776,...

Thoughts On America 250

Before you, American reader, is the honor, blessing, and privilege of celebrating the 250th anniversary of our nation. A nation toward which God has been merciful, shining His great grace.
00:09:03

Two birthdays apart

The Bicentennial was not just a commemoration of 200 years of independence – it was a coast‑to‑coast block party of red, white and blue.
00:02:31

Is Charlie Kirk’s Assassination Looking More Like a Conspiracy?

Enough videos have been posted to the internet, plenty...

Is There a 9/11 WTC and 9/10 Charlie Kirk Connection?

Strange parallels in online stories raise questions about whether Israelis and Mossad intelligence are our allies or adversaries.

DOJ Subpoenas NYT Journalists After Air Force One Security Report

The NYT said the DOJ issued subpoenas to its journalists after the NYT reported on alleged security concerns involving the new, Qatari-gifted Air Force One.
00:02:36

Federal Judge Rejects Transgender Health Nonprofit Bid to Halt FTC Lawsuit in Texas

A federal judge let stand an FTC lawsuit alleging a transgender health nonprofit made misleading claims about gender-affirming care for minors.

Pennsylvania Man Charged With Threatening a Member of Congress in YouTube Comments

A PA man was indicted Friday on federal charges of making threats against a member of Congress and others in comments posted to YouTube videos.
00:02:53

Judge Allows DOJ’s Bid to Dismiss Jan. 6 Convictions Against 4 Proud Boys

A federal judge granted the DOJ motion to dismiss the convictions of four Proud Boys members over their roles in the Jan. 6, 2021, U.S. Capitol breach.

Trump Warns of Global Spread of Communism at NATO Summit

President Trump reiterated his warnings about communism during the NATO summit in Ankara on July 8, saying he believes it’s taking root in the US and around the world.

Trump Arrives in Ankara to Meet With NATO Allies

It marks the first visit to Turkey by a...
00:01:40

President Launches Trump Accounts for Children With Historic Opening of NYSE, NASDAQ

President Trump rang a bell to open the New York Stock Exchange and NASDAQ during an Oval Office ceremony to launch accounts for children across the nation.

Trump Shares New US Passport Design on Truth Social

The mockup shows limited-edition passports planned for a July...
spot_img

Related Articles

Popular Categories

MAGA Business Central