WASHINGTON — Days before Republicans unveiled their sweeping tax cut plan, the chairman of the powerful Ways and Means Committee had one last person to consult. He went to the White House, where he and President Donald Trump went over the legislation ''line by line.''
''He was very happy with what we're delivering,'' said Rep. Jason Smith, a Republican from Missouri.
Trump had every reason to be pleased. His imprint is all over on the bill making its way through the House, starting with its title — the '' One Big Beautiful Bill Act.''
The legislation realizes many of Trump's campaign promises, temporarily ending taxes on overtime and tips for many workers, creating a new $10,000 tax break on auto loan interest for American-made cars, and even creating a new tax-free ''MAGA account'' — a nod to his ''Make America Great Again" movement, but in this case, it means ''Money Accounts for Growth and Advancement.'' This would contribute $1,000 to children born in his second term.
The Trump-inspired contours of the legislative package, months if not years in the making, reflect not only the president's considerable influence over the Republican Party, but also the hard political realities in the House, where Republicans have only the barest of majorities and often find it difficult to find consensus without Trump's involvement.
Speaker Mike Johnson, R-La., effectively owes his job to Trump and has kept in constant contact with him during the negotiations, including during his overseas trip this week.
''He's excited about our forward progress,'' Johnson said. ''You know, I keep him apprised of the developments, and he's had a busy time over there in the Middle East, and it's been good — he's in good spirits and we're in good spirits.''
The Republican bill runs a whopping 1,116 pages and includes more than $5 trillion in tax cuts, costs that are partially offset by spending cuts elsewhere and other changes in the tax code. The legislation would make permanent the tax cuts from Trump's first term while reducing funding for programs involving food assistance, college financing and environmental protection.