The House Has Approved a New $1.4 Trillion Spending Bill

Credit: AP Photo/J. Scott Applewhite

The package, which was approved on Tuesday, comes ahead of a US government shutdown.

This massive new spending package was meant to cover the remainder of the fiscal year’s spending. The package approved discretionary spending about $50 billion higher than the same period last year. The money will go to federal agencies, election security grants, and a 3.1% pay raise to both civilian and military federal employees.

The bill passed in the House will both fund federal agencies for the remainder of the fiscal year and repeal three old taxes. Three taxes that were used to pay for the Affordable Care Act will be permanently repealed. Furthermore, the bill raised the legal age for purchasing tobacco products from 18 to 21, the same legal age for the purchase of alcohol.

The bill, while quite significant, has been overshadowed by a hectic political week in Washington with the impeachment of President Trump.

The three taxes that have been repealed in this massive bill are:

  • A 2.3% tax on medical devices
  • The 40% “Cadillac Tax” on the most expensive healthcare plans, which was set to come into effect in 2022
  • A fee placed on the medical insurance industry which was set to come into effect in 2020
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