President Trump emphasizes the urgency for Congress to finalize a significant tax bill by the upcoming July 4 deadline, declaring 'NO ONE GOES ON VACATION' until it's on his desk. Even with GOP majority control, internal disagreements and procedural roadblocks are complicating the fast-tracking of this 1,000-page bill. The aim is to prevent a looming $3.8 trillion tax hike and make existing tax cuts permanent. While middle-income earners might gain, low-income households are projected to face a yearly cost of $1,600 according to estimates.
President Trump insists 'NO ONE GOES ON VACATION' until the new tax bill is on his desk by July 4, urging Congress to finalize it.
Republicans are focusing on a major tax bill that aims to prevent a looming $3.8 trillion tax hike post-December, according to the Senate Majority Leader.
The proposed bill would make current tax rates permanent, introduce new tax brackets, while resulting in a net cost to low-income households.
Despite having majority control, GOP leaders are facing hurdles like opposition within their ranks and procedural recommendations that complicate swift action on the bill.
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