NPR News: 07-03-2025 10PM EDT
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🗓️ 4 July 2025
⏱️ 5 minutes
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| 0:00.0 | Live from NPR News in Washington, I'm Janine Herbst. President Trump's massive tax cut and |
| 0:07.2 | spending bill passed the House this afternoon by a close margin. This after House Republicans |
| 0:12.2 | tamped down internal opposition from both moderates and fiscal conservatives. The package, |
| 0:17.8 | basically his entire domestic agenda, extends his 2017 tax cuts. |
| 0:23.2 | Just as I promised, we're making the Trump tax cuts permanent and delivering no tax on tips, no tax on overtime, and no tax on Social Security for our great seniors. |
| 0:35.7 | Trump's speaking there at the kickoff for America's year-long 250th anniversary celebration |
| 0:40.4 | in Iowa tonight. |
| 0:42.0 | The measure also adds money for immigration enforcement and defense, which would be |
| 0:45.9 | partly financed by cuts to Medicaid and food stamps. |
| 0:49.7 | It's also expected to add trillions to the federal deficit over the next decade. |
| 0:55.7 | And NPR's Scott Scott Horsley, |
| 1:00.7 | says it won't feel like a windfall to most people. Taxes that would have gone up will instead stay the same, and for those at the top of the income ladder, they'll avoid what would have been a |
| 1:05.6 | sizable tax hit. According to the Tax Policy Center, about 60% of the tax savings in this bill go to the top 20% of earners, |
| 1:13.5 | that is, people making more than about $217,000 a year. |
| 1:17.4 | Middle income families will see a smaller tax break, and those at the bottom of the income ladder |
| 1:22.6 | may actually wind up worse off because for them, the cuts to safety net programs like Medicaid and food stamps will, |
| 1:28.2 | on average, outweigh any of their tax savings. NPR Scott Horsley reporting. Pressure is building |
| 1:33.6 | on the Trump administration to decide whether to keep enforcing a Biden-era rule restricting |
| 1:40.0 | the sale of ghost guns. And Piers Martin Costi reports, at issue is an ATF rule that classifies certain build-it-yourself |
| 1:47.6 | gun kits as actual guns, requiring serial numbers and background checks. |
| 1:52.6 | The Supreme Court upheld the ATF rule in March, but now it's one of dozens of firearms |
| 1:57.1 | regulations being reviewed under an executive order signed by President Trump in February. |
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