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Filtering by entity: National Fraternal Order of Police (FOP) | Clear Filter
Summary:The National Fraternal Order of Police (FOP) praises President Donald J. Trump and House Speaker J. Michael Johnson for their leadership in developing the 'One Big Beautiful Bill Act,' which includes beneficial tax provisions for law enforcement officers, such as deductions for overtime pay and increased State and Local Tax (SALT) deductions.
Sentiment:Campaigning
Key Claims:
- The FOP expresses strong praise for the 'One Big Beautiful Bill Act' and its pro-labor provisions.
- The act includes a new tax deduction for income taxes on overtime earnings for those earning less than $160,000 annually.
- The act increases the SALT deduction from $10,000 to $40,400 for taxpayers earning less than $505,000 annually.
- President Trump initially proposed the elimination of Federal income taxes on overtime.
- The provisions aim to improve the quality of life for law enforcement officers and support local budgets by addressing financial challenges and retention issues.
Potential Market Impact (S&P 500):1/10
Potential Geopolitical Risk:0/10
Potential Global Cross-Asset Impact:0/10
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