1. United States
2. Fla.
3. Letter

The Senate passed HR1, by only one (1) vote (that of tie breaker Vance). It includes spending reductions affecting Medicaid and a large number of other federal programs. The bill also includes a provision to increase the federal government’s current $36.1 trillion statutory debt limit by $5 trillion! Such an increase is absolutely unconscionable! It includes: * Large individual tax cuts, with average filers, earning $1 million or more, receiving around $90,000 in tax breaks. * A massive tax cut for the ultra-rich, with households earning over $500,000 receiving a $168 billion reduction in total taxes. * Extension and expansion of the estate tax exemption, allowing couples to pass on up to $30 million tax-free. * Extension and expansion of the deduction for pass-through business owners, with over half the benefits going to owners with annual incomes over $1 million. * Permanent extension of the 2017 corporate tax rate reduction from 35% to 21%. * The top 10 percent of income earners are projected to receive 68 percent of the total benefits of this legislation. * The bill also increases the estate tax exemption to $15 million and extends the 20% pass-through deduction. * Households making $23,000 a year or less) will see a tax increase! * Premium tax credits for healthcare, would lead to increased costs or loss of coverage for low and middle-income families * Families struggling financially could experience a net loss in household resources, due to deep cuts to programs like Medicaid and food assistance. * The “Sunset provisions affect everything from business tax deductions to family tax credits, creating potential fiscal cliffs that could reshape the American tax code and federal spending priorities. * Key provisions facing expiration include the enhanced Child Tax Credit dropping from $2,200 back to $2,000 in 2029. 100% bonus depreciation for business investments ending between 2030 and 2031. * Research and development expensing reverting to amortization requirements in 2030. * The temporary increases to standard deductions will also disappear after 2028.  This just paves the way to deepen the divide between those who benefit from its $4.5 trillion in tax cuts and those who shoulder the burden of its $1.2 trillion in spending reductions. Ultimately, it amounts to a transfer of wealth from younger generations to older ones, from the poor to the wealthy! Therefore, I urge you to vote NO on HR1, aka “One Big Beautiful Bill Act (OBBBA)”!