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    What’s in Trump’s major tax bill? Extended cuts, deportations and more

    Senate Republicans on Tuesday passed Donald Trump’s massive tax and spending bill after spending all night voting on amendments. The bill, which the GOP has dubbed the One Big Beautiful Bill Act, now returns to the House of Representatives, which passed their version last month, before a Friday deadline the president has imposed for the legislation to be on his desk.Here’s what’s in the Senate’s version of the bill:Extending big tax cutsAfter taking office in 2017, Trump signed the Tax Cuts and Jobs Act, which lowered taxes and increased the standard deduction for all taxpayers, but generally benefited high earners more than most. Those provisions are set to expire after this year, but the “big, beautiful bill” makes them permanent, while increasing the standard deduction by $1,000 for individuals, $1,500 for heads of households and $2,000 for married couples, albeit only through 2028.Cutting tax on tips or overtimeThe bill has an array of new tax write-offs – but only while Trump is president. Several of the new exemptions stem from promises Trump made while campaigning last year. Taxpayers will be able to write off income from tips and overtime, and interest made on loans to purchase cars assembled in the United States. People aged 65 and over are eligible for an additional deduction of $6,000, provided their adjusted gross income does not exceed $75,000 for single filers or $150,000 for couples. But all of these incentives expire at the end of 2028, right before Trump’s term as president ends.Money for mass deportations and a border wallAs part of Trump’s plan to remove undocumented immigrants from the country, Immigration and Customs Enforcement (Ice) will receive $45bn for detention facilities, $14bn for deportation operations and billions of dollars more to hire an additional 10,000 new agents by 2029. More than $50bn is allocated for the construction of new border fortifications, which will probably include a wall along the border with Mexico.Slashing Medicaid and food stampsRepublicans have attempted to cut down on the bill’s cost by slashing two major federal safety-net programs: Medicaid, which provides healthcare to poor and disabled Americans, and the Supplemental Nutrition Assistance Program (Snap), which helps people afford groceries. Both are in for funding cuts, as well as new work requirements. The left-leaning Center on Budget and Policy Priorities estimates the Medicaid changes could cost as many as 10.6 million people their healthcare, and about eight million people, or one in five recipients, their Snap benefits.Cuts to green energyThe bill will phase out many tax incentives created by Congress during Joe Biden’s presidency meant to encourage consumers and businesses to use electric vehicles and other clean-energy technology. Credits for cleaner cars will end this year, as will subsidies for Americans seeking to upgrade their homes to cleaner or more energy-efficient appliances. While a draft of the bill targeted wind- and solar-energy projects with a new excise tax, senators voted to remove that at the last minute.State and local tax relief (Salt)One of the thorniest issues the bill addresses is how much relief to provide from state and local taxes (Salt), which many Americans must also pay in addition to their federal tax. Several House Republicans representing districts in Democratic-led states withheld their support from the bill until the Salt deductibility cap was raised from $10,000 to $40,000, but Senate Republicans made clear they would change that. The Senate’s version keeps the $40,000 cap, but only through 2028.Raising the debt ceilingThe bill will increase the US government’s authority to borrow, known as the debt limit, by $5tn. The US treasury secretary, Scott Bessent, has predicted the government will hit the limit by August, at which point it could default on its debt and spark a financial crisis.More benefits for the rich than the poorWealthier taxpayers appear set to receive more benefits from this bill than poorer ones, according to the Budget Lab at Yale University. Taxpayers in the lowest-income quintile will see a 2.5% decrease in their incomes, largely due to the Snap and Medicaid cuts, while the highest earners will see their incomes grow by 2.4%, the Budget Lab estimated. The impact could change based on which amendments the Senate adopts.A huge price tagDespite the GOP’s attempts to use the bill as a vehicle to rein in government spending, the bill would increase the deficit by $3.3tn through 2034, according to the non-partisan Congressional Budget Office. Most of that price tag is the extension of the 2017 tax cuts. The heavy budgetary impact could complicate the bill’s chances of passing the House, where fiscal hardliners have demanded budget-deficit reductions. More

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    Trump May Get His ‘Big Beautiful Bill,’ but the G.O.P. Will Pay a Price

    And so will many voters.There will be many short- and long-term consequences if Republicans succeed in passing President Trump’s signature policy bill, as they aim to do before the July 4 holiday, David Leonhardt, the director of the Times editorial board, tells the national politics writer Michelle Cottle in this episode of “The Opinions.”Trump May Get His ‘Big Beautiful Bill,’ but the G.O.P. Will Pay a PriceAnd so will many voters.Below is a transcript of an episode of “The Opinions.” We recommend listening to it in its original form for the full effect. You can do so using the player above or on the NYT Audio App, Apple, Spotify, Amazon Music, YouTube, iHeartRadio or wherever you get your podcasts.The transcript has been lightly edited for length and clarity.Michelle Cottle: I’m Michelle Cottle and I cover national politics for Times Opinion. So with the July 4 weekend looming, I thought we’d talk about a different kind of fireworks: that is, President Trump’s “big, beautiful bill” and as always, I hope the air quotes there are audible for everybody.But that bill looks like it is on track for passage. From Medicaid cuts to tax breaks for the rich, it is a lot. Thankfully with me to talk about this is David Leonhardt, the fearless director of the New York Times editorial board, who has some very pointed thoughts on the matter. So let’s just get to it. David, welcome.David Leonhardt: Thank you, Michelle. It’s great to be talking with you.Cottle: I’m so excited, but warning to all: We are recording on Monday midday and even as we speak, the Senate is brawling its way through to a final vote. So the situation is fluid and could change the details by the time you all hear this.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Trump Officials Unveil Budget Cuts to Aid for Health, Housing and Research

    The new blueprint shows that a vast array of education, health, housing and labor programs would be hit, including aid for college and cancer research.The Trump administration on Friday unveiled fuller details of its proposal to slash about $163 billion in federal spending next fiscal year, offering a more intricate glimpse into the vast array of education, health, housing and labor programs that would be hit by the deepest cuts.The many spending reductions throughout the roughly 1,220-page document and agency blueprints underscored President Trump’s desire to foster a vast transformation in Washington. His budget seeks to reduce the size of government and its reach into Americans lives, including services to the poor.The new proposal reaffirmed the president’s recommendation to set federal spending levels at their lowest in modern history, as the White House first sketched out in its initial submission to Congress transmitted in early May. But it offered new details about the ways in which Mr. Trump hoped to achieve the savings, and the many functions of government that could be affected as a result.The White House budget is not a matter of law. Ultimately, it is up to Congress to determine the budget, and in recent years it has routinely discarded many of the president’s proposals. Lawmakers are only starting to embark on the annual process, with government funding set to expire at the end of September.The updated budget reiterated the president’s pursuit of deep reductions for nearly every major federal agency, reserving its steepest cuts for foreign aid, medical research, tax enforcement and a slew of anti-poverty programs, including rental assistance. The White House restated its plan to seek a $33 billion cut at the Department of Housing and Urban Development, for example, and another $33 billion reduction at the Department of Health and Human Services.Targeting the Education Department, the president again put forward a roughly $12 billion cut, seeking to eliminate dozens of programs while unveiling new changes to Pell grants, which help low-income students pay for college.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Sebastião Salgado: A Life in Pictures

    From the small town in the Brazilian countryside where he was born, Sebastião Salgado, the renowned photojournalist who died on Friday at 81, traveled the world many times over, documenting the plight of workers and chasing the grandeur, diversity and, ultimately, fragility of nature.In photographs — most often in richly contrasting black and white — Mr. Salgado brought viewers to famine-stricken refugee camps in Ethiopia, to a hive of toiling gold miners in Brazil, to firefighters battling burning oil fields in Kuwait, and to chinstrap penguins sliding down ice slopes in the Sandwich Islands.Mr. Salgado had a gift for bringing together, often in a single frame, the immediacy of individual human suffering and the enormity of the dire realities that he documented. His photographs, frequently displayed in museums and galleries, often show a figure standing against the horizon. Cloud-filled skies are reflected on the surface of a river in the Amazon rainforest. Rays of heavenly light pour down onto mountain landscapes in the tundra, signaling to the viewer that this place is divine.This is the world Mr. Salgado left us: beautiful, fragile, sacred. Here is a selection of his work.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryRefugees in the Korem camp in Ethiopia, 1984.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryThe Rwandan refugee camp in Benako, Tanzania, in 1994. Right, children inside the Kimumba camp in Goma, Zaire, now the Democratic Republic of Congo.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryWorkers in a gold mine in the northern Brazilian state of Pará in 1986. Some of Mr. Salgado’s most famous images were of workers climbing from the bottom of the mine to the dumping ground at the top while carrying 30 kilos of soil on slick ladders.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryChurchgate Station in Mumbai, India, in 1995. Mr. Salgado published “Migrations” in 2000, a series documenting the mass migration of people forced to leave their homes by war or economic hardship.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryChemical sprays protect this firefighter against the flames from a burning oil well in Kuwait in April 1991. Mr. Saldado’s photo essay “The Kuwaiti Inferno” was published in The New York Times Magazine in June 1991.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryMembers of the Safety Boss Company of Canada worked to plug damaged oil wells, an effort to repair damage done by Iraqi troops.Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryMr. Salgado had been traveling for his epic ecological work “Genesis,” a series about the effects of human activities on the environment.Photographs by Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryMr. Salgado spent years traveling across the Amazon, capturing arresting images of vast rivers and rainforests while documenting the impact of development on natural landscapes and Indigenous communities.Photographs by Sebastião Salgado/Amazonas Images, via Contact Press Images/Peter Fetterman GalleryMembers of the Yanomami tribe from the community of Maturacá in 2014, looking out to the mountain vegetation on the flanks of Pico da Neblina, or Mist Peak. The Yanomami believe their most important spirits inhabit these mountains, which were long occupied by hundreds of gold diggers, until 1992, when the Brazilian Army expelled all of them. The tribe keeps watch over the region for potential intruders. A shaman, chanting and dancing, prepared the expedition up to the peak. More

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    Millions Could Lose Food Stamp Benefits Under Trump Tax Bill, Analysis Finds

    Others could see their monthly benefits reduced if the bill were to become law, according to the nonpartisan Congressional Budget Office.Millions of low-income Americans could lose access to food stamps or see reductions in their monthly benefits as a result of House Republicans’ newly adopted tax bill, according to an analysis released Thursday from the nonpartisan Congressional Budget Office.The findings underscore the significant trade-offs in the party’s signature legislative package, which seeks to save money by cutting federal anti-poverty programs in a move that may leave some of the poorest Americans in worse financial shape.To save nearly $300 billion over the next decade, Republicans proposed a series of new rules that would tighten eligibility under the Supplemental Nutrition Assistance Program, or SNAP. Under their bill, a wider range of aid recipients would be required to obtain work to qualify for federal help.Republicans say the change aims to reduce waste and ensure that the federal government provides food stamps only to the truly needy. They have similarly looked to expand work requirements to Medicaid, which provides health insurance to low-income Americans.Still, the work mandate could reduce participation in SNAP by more than three million people in an average month over the next decade, according to the budget office, which studied a version of the party’s recently approved legislative package.Republicans also proposed to have states assume some of the costs for the federal food stamp program, an idea that has troubled some governors, who say their budgets cannot afford to shoulder the responsibility.As a result, congressional budget scorekeepers estimated the shift could result in an average of 1.3 million people losing access to SNAP. They attributed the reduction to the fact that some states may opt to “modify benefits or eligibility or possibly leave the program altogether because of the increased costs.”Issuing its analysis, the budget office cautioned it could not produce one total, concise estimate of the number of people who could lose anti-hunger aid, given the possibility of overlap and the potential interactions with changes to other federal programs.Still, the budget office estimated that many of Republicans’ proposed changes would reduce eligibility while cutting benefit amounts for those who do remain on the program. A small percentage of households could even see a roughly $100 reduction in their monthly allowance because of a provision that would change how some benefits are computed, according to the analysis. More

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    Republican Tax Bill May Hurt the Lowest Earners and Help the Richest

    Even though most Americans may see lower taxes, Republicans’ spending cuts could outweigh those benefits and leave some worse off.As Representative Jason Smith commenced a marathon session this week to consider a sprawling and expensive Republican tax package, he took special care to emphasize his party’s commitment to “hard-working Americans.”“Pro-growth tax policy will shift our economy toward one that serves them, not the wealthy and well-connected,” Mr. Smith, the Missouri lawmaker who leads the House’s top tax panel, proclaimed.But the proposal he is trying to get to President Trump’s desk ultimately tells a more complicated story. The Republican tax plan may offer only modest gains to everyday workers, according to a wide range of tax experts, and some taxpayers may actually be left in worse financial shape if the bill becomes law.The latest assessment arrived Friday from the Penn Wharton Budget Model, a nonpartisan scorekeeper closely watched on Capitol Hill. Economists found that many Americans who make less than $51,000 a year would see their after-tax income fall as a result of the Republican proposal beginning in 2026.The Penn Wharton estimate sought to analyze the full scope of the Republican tax package, computing the effects of the tax cuts as well as the plan to pay for them by slashing federal spending on other programs, including Medicaid and food stamps. Combined, those policies could fall disproportionately on the poorest, including those near or below the poverty line, the economists found.People making between about $51,000 and $17,000 could lose about $700 on average in after-tax income beginning in 2026, according to the analysis, when factoring in both wages and federal aid. That reduction would worsen over the next eight years. People reporting less than $17,000 in income would see a reduction closer to $1,000, on average, also increasing over time, a shortfall that underscores their reliance on federal benefits.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    New York’s Deepest Pockets Turn Out to Fight Poverty

    Thousands of Wall Street big shots crowded into the Javits Center Monday night for the annual Robin Hood gala. Founded in 1988, Robin Hood is one of New York’s largest anti-poverty groups, and its yearly fund-raiser lures the city’s deepest pockets for a night that results in millions in grants.A sea of men in navy jackets and brown oxfords filed through metal detectors to enter the cavernous hall, which was decked out with sports-themed decorations that included a giant inflatable basketball and baseball mitt. Thirsty bankers and hedge fund managers ordered vodka tonics and pours of Johnnie Walker Black Label at a bar housed in a soccer net. Boxers standing on small podiums jabbed at bright green punching bags that read “#fightpoverty.”After a marching band and a cheerleading squad performed, some 3,500 guests filed into an arena-like dining hall filled with hundreds of tables populated with sports, politics and finance figures. They included the National Football League’s commissioner Roger Goodell, the former N.F.L. quarterback Colin Kaepernick, the philanthropist Laurie M. Tisch and former Mayor Michael Bloomberg. Serena Williams sat beside her husband, Alexis Ohanian, one of the founders of Reddit and a Robin Hood board member.As the former New York Giants quarterback Eli Manning tucked into a plate of fried chicken, he considered the importance of giving back.“This city is filled with the people who root for me and who have rooted for me,” Mr. Manning said, “and I think all New York athletes and sports teams have a responsibility to give back.”Gov. Kathy HochulDolly Faibyshev for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    In Trump Tax Package, Republicans Target SNAP Food Program

    Limiting funding for SNAP could help defray the costs of President Trump’s tax plans, but could result in millions of low-income families losing access to aid. House Republicans on Monday proposed a series of sharp restrictions on the federal anti-hunger program known as food stamps, seeking to limit its funding and benefits as part of a sprawling package to advance President Trump’s tax cuts.The proposal, included in a draft measure to be considered by the House Agriculture Committee this week, would require states to supply some of the funding for food stamps while forcing more of its beneficiaries to obtain employment in exchange for federal aid. The moves could result in potentially millions of low-income families losing access to the safety net program. But G.O.P. leaders insist that their approach would improve the provision of food stamp benefits while helping to defray the cost of Mr. Trump’s expensive legislative ambitions.House Republicans said in a statement on Monday that their proposal emphasized “reinforcing work, rooting out waste, and instituting long-overdue accountability incentives to control costs and end executive and state overreach.”The Republican overhaul specifically targets the Supplemental Nutrition Assistance Program, known as SNAP With a roughly $110 billion annual budget, it is the federal government’s largest nutrition assistance initiative, providing monthly allotments to an average of 42 million people in the 2025 fiscal year, according to the most recent data from the U.S. Department of Agriculture, which manages the program.Proponents of the food stamp program say that it has long served as a critical lifeline for low-income families by ensuring that they do not experience hunger in a nation where about one in seven reported food insecurity at some point during 2023, according to federal data released in September.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More