The text discusses the economic policies of the White House, highlighting the President’s plan to grow the economy from the middle out and bottom up. The President is committed to not raising taxes on anyone making less than 0,000 and will cut taxes further for workers and families, funded by asking corporations and the wealthy to contribute more.
Republican lawmakers advanced legislation for a billion tax cut in response to Democratic Gov. Josh Shapiro’s budget plan. The tax legislation passed the Republican-controlled Senate and is intended to be the largest tax cut in the state’s history. Democrats opposed the bill, which aims to cut taxes by billion, while Shapiro’s budget proposal includes a billion increase in spending.
The Tennessee House and Senate have reached a compromise to pass a business tax cut and refund, allowing businesses to request refunds up to three years of the Franchise and Excise Tax.
The United States is preparing a new military aid package for Ukraine valued at up to 0 million. This package, the first in months, comes as additional funds for Kyiv are blocked by Republican leaders in Congress. The funding for this package is sourced from credits refunded to the Pentagon for recent purchases. U.S. President Joe Biden supports military aid to Ukraine, contrasting with his likely Republican opponent in the upcoming election, former president Donald Trump, who has a more isolationist stance. There is pressure on the House to pass a billion national security package that includes aid for Ukraine, Israel, and the Indo-Pacific, which has already cleared the Senate with a 70-29 vote. However, Republican House Speaker Mike Johnson has resisted putting the aid bill up for a vote in the House.