State of the 1040
In case you missed it:
But we held strong and with the Great Big, Beautiful Bill, we gave you no tax on tips, no tax on overtime and no tax on Social Security for our great seniors. [Applause] And we also made interest on auto loans tax deductible -- the first time -- but only if the car is made in America. [Applause] Recently in Pennsylvania, I met Megan Hemhauser, a devoted mom who home schools her children -- beautiful, two children -- during the day while waiting tables at night as her husband works overtime operating very heavy equipment.
Megan is here this evening and she's happy to tell you that she is so, so much richer because, with no tax on tips, no tax on overtime and our expanded child tax credit done again by Republicans, Megan and her husband will take home more than $5,000 extra just for the year cutting her tax bill in more than half.
. . . but I wonder what Megan is teaching her home-schooled children about the $39 trillion national debt, and the $1.78 trillion federal deficit (before tariff refunds). Maybe the lesson is that they will go away when all the corruption and fraud in government is eliminated. ("But, Mom, why didn't the corruption go away in 2017-2021?")
