SW Iowa Times

The U.S. House of Representatives has passed a comprehensive bill that includes various fiscal measures and policy changes. The legislation, referred to by some as the ‘One Big Beautiful Bill,’ aims to make permanent the 2017 tax cuts initiated during the Trump administration, thus preventing an average taxpayer from facing a potential 22 percent tax increase.

A notable inclusion in the bill is Congressman Fulcher's "No Tax on Overtime" provision. This component, part of the KEEP Act, seeks to eliminate taxes on overtime work. It also addresses taxes on tips and car loan interest while proposing reduced taxes on seniors' social security benefits.

Additional elements of the bill are designed to benefit specific sectors and address broader national concerns. It proposes lower borrowing costs for American farmers and incorporates language akin to Fulcher's CLEAN Act, mandating annual geothermal lease sales with projected revenue generation of $23 million.

Border security is another focus area, with provisions for resources dedicated to completing border wall construction and assisting officers in intercepting illicit drugs like fentanyl at entry points.

The bill also seeks to remove financial incentives aligned with Green New Deal policies, expedite liquefied natural gas export processes, invest in water infrastructure projects in Western states, increase timber sales on federal lands through long-term contracts, and enforce stricter Medicaid eligibility requirements. These requirements aim to exclude deceased beneficiaries and ensure Medicaid funds are directed only towards American citizens and legal immigrants by strengthening citizenship verification procedures.

Furthermore, it establishes work requirements for able-bodied adults without dependents or elderly parents under their care as a means of encouraging personal accountability and reducing poverty levels.