those at the top. and the president repeatedly said he didn t think he should be getting any tax relief. he s going to get a whole lot of tax relief. i mean, the top rate is going to go down. the top rate s going to go from 39 to 37. i m telling you, the middle class writes 70% of the economic activity in the country are getting the shaft here and they know it. let s talk about what is in this bill and what s not in this bill. remember, we re not going to see it until 5:30, so we only have the reporting to rely on. this was tweeted, there s going to be a higher, what s being removed from the higher tax bill i should say the higher education tuition waiver tax, not there any longer, student loan deduction not there any longer, medical expense deduction not there any longer, johnson amendment repeal, not there any longer. fetal personhood language, hold on, what is fetal personhood language? well, what they were trying to do was to extend breaks to kids that weren t even born.
it treated waivers for graduate students as taxable. if you get a $50,000 tuition waiver on $100,000 tuition, $100,000 would be taxable. this is good news. we ve gone in this direction and we ve taken out the student loan deduction. people who lost the ability to deduct medical bills in an earlier version of the bill will now get the ability to deduct the high medical expenses? income threshold will fall from 10% to 7.5% so a larger number of families will have access. how are they going to pay for that? that s good news. reporter: it s a great question. we don t know the answer to that. as garrett mentioned there will be some changing of the start and end dates there and then some discussion of potentially setting income individual income tax cuts earlier. they re monkeying around with
originally proposed that was favored by president trump. 20 is my number. so i m not negotiating that number. reporter: the deal fully repeals the corporate alternative minimum tax but keeps the individual amt for people making over $500,000 a year and families making at least one million. president trump stands to benefit from this change to the amt to the tune of tens of millions of dollars. according to his only tax return that is public from 2005. the tax plan would also now allow individuals to write off up to $10,000 of state and income property taxes or is sales taxes or a combination of them, appeasing lawmakers in high-tax states. senate negotiators proposed a number of popular deductions including the student loan
for republicans politically. look at bernie sanders, elizabeth warren, camilla harris. these socialist democrats. they re going out there and talking about how bad this is for the middle class which is mostly young people. going out and saying they re getting a 15% tax break to these evil corporations, but they took away your student loan deduction. it s not good either way. tucker: evil may be strong, but some of those corporations are not in bed with republican values at all. to some extent, they re not far off from a conservative perspective. a lot of these corporations are deeply hostile to a traditional from conservatives. isn t it kind of beyond dispute that one of the reasons that young people or the poorest groups of america are getting married, aren t buying vehicles, aren t buying homes, aren t launching out of their own parents homes in a lot of cases is the weight of student loan
for republicans politically. look at bernie sanders, elizabeth warren, camilla harris. these socialist democrats. they re going out there and talking about how bad this is for the middle class which is mostly young people. going out and saying they re getting a 15% tax break to these evil corporations, but they took away your student loan deduction. it s not good either way. tucker: evil may be strong, but some of those corporations are not in bed with republican values at all. to some extent, they re not far off from a conservative perspective. a lot of these corporations are deeply hostile to a traditional from conservatives. isn t it kind of beyond dispute that one of the reasons that young people or the poorest groups of america are getting married, aren t buying vehicles, aren t buying homes, aren t launching out of their own parents homes in a lot of cases is the weight of student loan