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Once a child reaches 18, the money can be withdrawn to be used for a home down payment, for education, or to start a small business.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

Charlie Kirk, “Of Whom the World Was Not Worthy”

As we shake the ill-effects of that hour we learned Charlie Kirk passed, we continue to find the words of Jesus helpful in making eternal sense of it all.

CHARLIE KIRK, YOU WEREN’T PROVED WRONG

"I want to be remembered for courage for my faith,” Kirk had said in a podcast merely two months ago. May his courage spur us to be bolder in our faith.

Trump’s Proposal For NATO To Stop Buying Russian Oil & Start Tariffing China Is Unrealistic

Trump proposed on social media that NATO stop buying Russian oil and start tariffing China 50-100% as part of his plan for ending the Ukrainian Conflict.

The Choices We Make

Death and disagreement are inevitable. Love and hate are choices. We will all die. Before we do, what choices will we make?

Elon Musk Speaks at Unite the Kingdom Rally

Tommy Robinson held rally, with Elon Musk appearing virtually, calling attention to leftist politicians who allow foreign immigrants to invade England.

Raising Retirement Age to Shore Up Social Security May Be on the Table

A range of options to secure Social Security’s finances, including raising the retirement age, are under consideration as the program nears insolvency.

Charlie Kirk’s Real Statement on the Second Amendment and Gun Deaths

I'm seeing people argue to take our Second Amendment rights away. How do we convince people that it's important to have the right to defend ourselves?

ABC’s ‘The View’ in Spotlight After Jimmy Kimmel Suspended, Says FCC Chairman

FCC Chair Brendan Carr said in an interview that ABC’s “The View” could be investigated after Jimmy Kimmel’s late-night show, was suspended.

House Passes Resolution to Honor Charlie Kirk

The House of Representatives on Sept. 19 passed a resolution remembering conservative influencer Charlie Kirk and condemning his assassination.

Trump, Starmer Seal Record $340 Billion ‘Tech Prosperity Deal’

President Trump and British PM Keir Starmer announced a new partnership worth $340 billion in technology, nuclear power, and private equity.

DOJ Sues Maine, Oregon Over Voter Registration Lists

The DOJ said that it is suing Oregon and Maine for failing to provide information on how their election offices maintain valid voter registration rolls.

Rubio Says US Visa Revocations Underway After Charlie Kirk Death Celebrations

SoS Marco Rubio said foreign nationals who made celebratory comments over Charlie Kirk’s assassination will have their U.S. visas revoked.

Trump Supports Designating Antifa a Terrorist Organization

President Trump said he would support designating the antifa movement a terrorist organization in the wake of Charlie Kirk’s assassination last week.
spot_img

Related Articles