You know, it made the 2017 Trump tax cuts permanent and it also increases take home pay for working families, more than 10,000 a year in added earnings for typical households. That's the estimate. It eliminates taxes on tips over time. Car loan interest, Allows deductions of up to 10,000 on interest for new US made auto loans. Permanently boosts the child tax credit which supports more than 40 million families in federal taxes on Social Security. For most seniors, I believe it's 88% of recipients will pay no federal taxes. (07:16–07:23)
CLAIM
Asserts that there will be a tax deduction for interest on new US-made auto loans.
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