{"product_id":"the-obbb-act-how-it-is-likely-to-impact-lenders-and-borrowers-copy","title":"The OBBB Act- How it is Likely to Impact Lenders and Borrowers","description":"\u003cp class=\"x_MsoNormal\" data-olk-copy-source=\"MessageBody\"\u003eThe OBBBA contains hundreds of provisions—many of them related to taxes.  For example, it permanently extends the individual tax rates Trump signed into law in 2017, which were set to expire at the end of 2025. It raises the cap on the state and local tax deduction to $40,000 for taxpayers making less than $500,000, with the cap reverting to $10,000 after five years. OBBB includes several tax deductions for tips, overtime pay, auto loans, and creates Trump Accounts, allowing parents to create tax-deferred accounts for the benefit of their children, all set to expire in 2028. It includes a permanent $200 increase in the child tax credit, a 1% tax on remittances, and a tax hike on investment income from college endowments.   However, It phases out some clean energy tax credits that were included in the Biden-era Inflation Reduction Act, and promotes fossil fuels over renewable energy. It increases a tax credit for advanced semiconductor manufacturing and repeals a tax on silencers.\u003cspan\u003e \u003c\/span\u003eIt raises the debt ceiling by $5 trillion. It cuts  Medicaid spending by 12% and expands work requirements for SNAP (food stamp) benefits) recipients and makes states responsible for some of the SNAP costs.  OBBB includes $150 billion in new defense spending and another $150 billion for border enforcement and deportations. The law increases Immigration and Customs Enforcement (ICE) funding from $10 billion to more than $100 billion by 2029.\u003c\/p\u003e\n\u003cp class=\"x_MsoNormal\" data-olk-copy-source=\"MessageBody\"\u003e\u003cspan\u003e\u003c\/span\u003eSo what are the pros and cons of the key provisions?  Are there ramifications that need to be identified, evaluated, and resolved?\u003c\/p\u003e\n\u003cp class=\"x_MsoNormal\"\u003e\u003cb\u003e\u003cu\u003eTopics covered in this session\u003c\/u\u003e\u003c\/b\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eDescription of OBBB Act\u003cspan\u003e\u003c\/span\u003e\n\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eLegislative process from introduction to enactment to implementation\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eContents of OBBB Act—explanation, likely impact\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cul\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eIndividual income taxes\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eBusiness Income Taxes\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eTax-exempt Organizations\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eEducational Institutions\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eMedicaid Cuts and Potential Cuts\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eTrump accounts and contribution pilot program\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eLimits on green industrial policy\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eProvisions on agriculture\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eLeasing and sale of public lands\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eDebt Ceiling\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eMedicare Drug Negotiation\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eMilitary Defense\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eBorder Security\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eSupplemental Nutrition Assistance Program (SNAP)\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eStudent Loans\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eEmployee Benefits\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eRemittance Tax\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eEstate tax, gift tax, and generation-skipping transfer tax\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eBoost in air traffic control funding\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eNew $10 billion for NASA\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eFCC and NTIA to identify and auction 600 MHz of the electromagnetic spectrum between 1.3 and 10 GHz by 2034\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eRepeal of de minimis entry privilege, which allowed shipments under $800 to enter the U.S. tariff-free\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eHalving of funding for the Consumer Financial Protection Bureau\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eRamifications\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eDisputes on cost of OBBB\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eCrowding Out Effect on debt markets\u003c\/li\u003e\n\u003cli class=\"x_MsoListParagraph\"\u003eChanges to political control of Congress and Presidency\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/ul\u003e\n\u003cp class=\"x_MsoNormal\"\u003e\u003cb\u003e\u003cu\u003e\u003cspan\u003eWho Should Attend\u003c\/span\u003e\u003c\/u\u003e\u003c\/b\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"x_MsoNormal\"\u003eCredit Analysts\u003cspan\u003e\u003c\/span\u003e\n\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eCredit Managers\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eLoan review officers\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eWork-out officers\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eCommercial lenders\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eCredit Risk Managers\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eChief Credit Officers\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eSenior Lenders\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eSenior Lending Officer\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eBank Director\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eChief Executive Officer\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003ePresident\u003c\/li\u003e\n\u003cli class=\"x_MsoNormal\"\u003eBoard Chairman\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e*This program does NOT qualify, nor meet the National Standard for NASBA accreditation. \u003c\/p\u003e","brand":"BankersHub","offers":[{"title":"Default Title","offer_id":46225499881647,"sku":"ODC1112252","price":299.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0646\/2894\/9167\/files\/OBBBAct.jpg?v=1759856491","url":"https:\/\/www.bankershub.com\/products\/the-obbb-act-how-it-is-likely-to-impact-lenders-and-borrowers-copy","provider":"BankersHub","version":"1.0","type":"link"}