Finance Foggle

  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...