Tax cut provisions in the “Big Beautiful Bill” passed by the House on Thursday could increase pay for some families by over $10,000, according to U.S. Rep. Gary Palmer (R-Hoover).
Palmer highlighted the practical effects of parts of the legislation exempting taxation on tips and overtime.
Palmer said on Thursday, “I voted for this bill to prevent families from facing a $4 trillion tax hike.”
“This bill extends President Trump’s 2017 tax cuts that provided economic relief to American families. Without this bill, a family of four could see a $1,695 tax increase, the average taxpayer would see a 22% tax hike, and families would see their child tax credit cut in half. With the provision of no tax on tips or overtime included in the bill, take-home pay for hard working families could increase by over $10,000 per year and working families making between $15,000 and $30,000 would see their taxes cut by 23%,” Palmer said.
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