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

Contact Your Elected Officials

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Once a child reaches 18, the money can be withdrawn to be used for a home down payment, for education, or to start a small business.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

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.

Obama Floats ‘New Forms of [State-Controlled] Journalism’

Notorious nemesis of civil liberties one and all, Barack Obama, ]apparently endorses a heavy state hand in the “regulation” of information.

Privilege Is Financial, Not Racial

If we stay divided by race, we’ll keep fighting each other while the true elites of all races thrive unseen, counting their wealth in comfort.

California Repeats Illinois’ History, PROSECUTE Newsom!

California may have improperly licensed 62,000 illegal aliens as Commercial Driver’s License (CDL) truck drivers.

The Stage Is Set For A US-Instigated Security Dilemma Between The Eurasian Rimland & Heartland

The US sends mixed signals on the Sino-Russo alliance after Trump downplayed concerns while Hegseth said he was ordered to “re-establish deterrence.”

Chambers of Horror

Using a shutdown to legislate is like using a flame thrower to light a candle, it provides light momentarily but destroys everything in its path.

FDA Takes Steps to Limit Ingestible Fluoride Products for Children

FDA warned companies selling prescription drugs containing fluoride for children that it intends to crack down on unapproved products containing fluoride.

New Mexico to Roll Out Free Universal Child Care On Nov. 1

New Mexico to become first state to offer no-cost universal child care to legal residents after ranking worst state in the country for child well-being.

More Than 140 Illegal Immigrant Truck Drivers Among 223 Arrested in Indiana Sting

Federal agents arrested over 140 illegal immigrant truck drivers in Indiana during a highway operation targeting public safety threats nationwide.

Spanberger, Sears Make Final Pitches to Virginians Ahead of Election

Rep. Abigail Spanberger (D) and Lt. Gov. Winsome Earle-Sears have been making their cases for why they should be elected as the next Virginia governor.

US, South Korea Finalize Trade Deal Reducing Tariffs, Boosting American Investment

The U.S. and South Korea finalized a major trade deal on Oct. 29 as President Trump wrapped up the final hours of his Asian tour on the Korean Peninsula.

Trump, Japanese PM Sign Critical Minerals, Rare Earths Deal

The U.S. president visited Tokyo on the second leg...

Trump Hikes Canada’s Tariffs by 10 Percent for Not Pulling Anti-Tariff Ad Immediately

Trump announced he will increase tariffs on Canada by 10% after ad by provincial government of Ontario misrepresented President Reagan’s speech on tariffs.

Trump Rolls Back Emissions Rules on Copper Smelters

President Trump issued a proclamation aimed at reversing a Biden-era environmental rule that enforced stricter air emission standards on copper smelters.
spot_img

Related Articles

Popular Categories

MAGA Business Central