“Today the House took the responsible and critical step to protect all Americans from the largest tax increase in our history, secure our borders to stop the flow of human trafficking and fentanyl and rebuild our military after years of neglect, while protecting fundamental programs such as Medicaid, Medicare, and Social Security ensuring their survival.

This bill includes protections for the most vulnerable by preserving Medicaid, while making no changes to Social Security and Medicare. This bill reforms Medicaid by targeting rampant fraud and abuse, including work and volunteer requirements for those who are able, allowing more taxpayer dollars to be spent on those the program was intended for——including pregnant women, low-income families, individuals with disabilities, and New Jersey’s seniors. It also includes new rules to ensure states are following eligibility laws when enrolling new Medicaid participants—needed provisions to remove the 1.4 million illegal aliens enrolled in Medicaid. This bill reforms critical programs to ensure their survival for those they were designed to serve.

After four years of neglect under the Biden-Harris Administration, the House voted to secure the border—providing much needed funds to build the wall and enforce immigration laws through increased enforcement, and investing in new technologies to detect dangerous drugs such as fentanyl.

Today, the House acted to finally address this fiscal calamity in major legislation that will:

• Permanently cut taxes for the American worker by making the 2017 Trump tax cuts perpetual – protecting the average taxpayer from a 22 percent tax hike.
• Provide $81 billion in mandatory spending to strengthen border enforcement and removal of illegal aliens.
• Deliver on President Trump’s priorities of no tax on tips, overtime pay and car loan interest, and new tax relief for seniors that will put more money annually in the pockets of millions of Americans.
• Preserve and increase the Standard Deduction by $1000 for individuals for a total of $16,300 and $2,000 for couples for a total of $32,600, retroactive to January 2025.
• Provide increased State and Local Tax (SALT) Relief by raising the cap from $10,000 to $40,000 for those making under $500,000 a year. Importantly, the cap and income phaseout limit would increase 1 percent annually, ensuring sustained relief for New Jersey families.
• Preserve and increase the Child Tax Credit (CTC) to $2,500 per child, up from $2,000, and indexes it for inflation.
• Expand 529 education savings accounts to empower American families and students to choose the education that best fits their needs, whether it is K-12 materials or obtaining a postsecondary trades credential.
• Reform Medicaid by implementing verification requirements to ensure deceased individuals are not drawing benefits, and tightens eligibility which will remove 1.4 million ineligible illegal immigrants from current Medicaid rolls.
• Include Medicaid work or volunteer requirements for able bodied individuals in the amount of 20 hours a week; these requirements do not apply to pregnant women, those living with disabilities, and senior citizens—the individuals Medicaid was created to serve.
• Prevent Medicaid dollars from being spent on youth gender transition surgeries—preventing schools from hiding children’s healthcare decisions from their parents.
• Hold states accountable for misuse and wasteful spending on Medicaid through future penalties for failure to implement procedures to ensure accurate Medicaid enrollment, payments to pharmacies, and means to control costs in government spending.
• Not include changes that would alter the federal share of spending in the joint federal-state Medicaid program.
• Repeal the Biden-Harris reporting rule on Venmo and PayPal transactions over $600.
• Invest in our Armed Forces—including $9 billion to improve Armed Forces servicemember quality of life to include funding for Armed Forces Retirement Home facilities improvements, and $33.7 billion in mandatory funding the Maritime Industrial Base to accelerate shipbuilding and rebuild our Navy.
• Reform Supplemental Nutrition Assistance Program (SNAP) by, among other provisions, implementing new eligibility verification requirements to ensure nutritional assistance dollars are used by American citizens and legal residents, not illegal aliens. Also incentivizes States to reduce their payment error rate by sharing 5 to 15 percent of program administrative costs depending on compliance with the law, and implementing certain work requirements for specific able-bodied adults. 
• Repeal the unworkable Biden-Harris CAFE standards and truck rules requiring vehicles to be zero-emission in 2032.
• Provide permanent Estate Tax Relief, better allowing parents and grandparents to leave a legacy for their family.
• Expands the 199A small business deduction to 23 percent and makes the deduction permanent.
• Renews Opportunity Zone program to spur over $100 billion in new investment over the coming decade.
• End the de minimis customs exemption for packages under $800 that was exploited by China to flood America’s market with cheap goods and fentanyl.
• Revoke tax-exempt status for nonprofits that materially support terrorism.
• Starts building financial security for America’s children at birth with the creation of new savings accounts, and the federal government will deposit $1,000 for every child born from 2024 to 2028 into their newly-named TRUMP savings account.

While protecting Social Security, Medicare and Medicaid—and providing critical tax relief for all Americans—the House-passed bill makes much needed changes to tackle our astronomical $36 trillion debt and a projected $13.8 trillion in interest payments over the next decade.  

This landmark bill takes significant steps to ensure that our children and grandchildren are not burdened by an ever-increasing national debt.”

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