Finance Foggle

  Key Takeaways Trump considers eliminating capital gains tax on primary home sales, linking it to Fed rate cuts . Current law exempts $250K (single) / $500K (married) gains since 1997—unadjusted for inflation . 29M+ homeowners could exceed exemption thresholds today; high-cost areas hit hardest . Critics argue removal primarily benefits wealthy sellers (avg. net worth: $5.7M) . NAR claims tax creates “stay-put penalty,” freezing inventory as seniors delay downsizing . The Proposal in a Nutshell Trump’s Oval Office remarks hit like a whiskey shot—no chaser. “We are thinking about no tax on capital gains on houses,” he told reporters, flanked by leather chairs and Philippine President Ferdinand Marcos Jr. . He framed it as a housing market fix, snarling that the Federal Reserve’s refusal to slash rates forced his hand. “If the Fed would lower the rates, we wouldn’t even have to do that” . Within hours, Rep. Marjorie Taylor Greene claimed his words endorsed her  No Tax on Home S...

  Key Takeaways The Senate passed Trump’s megabill 51-50, with Vice President Vance breaking the tie after Republicans Collins, Tillis, and Paul defected over Medicaid cuts and deficit concerns . Tax changes:  Permanent extension of 2017 TCJA rates ($4 trillion cost), temporary deductions for tips ($25K cap), overtime ($12.5K cap), and car loan interest ($10K cap), plus a 5-year SALT deduction boost to $40K . Healthcare cuts:  $900B in Medicaid savings from work requirements and reduced provider taxes, projected to leave 11.8 million uninsured by 2034. Rural hospitals face closure risks despite a $50B temporary fund . Energy shifts:  Immediate end to EV tax credits, phaseout of wind/solar incentives by 2027, and new fossil fuel supports like classifying coal as a “critical mineral.” Analysts predict 10% higher electricity bills and 50% less new grid capacity . The bill faces House hurdles due to Freedom Caucus opposition to deficit spending ($3.3 trillion over 10 yea...