Texas Tribune on Paxton tax plan

… <p>Republicans last year passed the One Big Beautiful Bill Act, a massive tax-and-spending package, on a mostly party-line vote. The bill permanently extended the tax cuts Republicans passed during President Donald Trump’s first term while creating new temporary deductions aimed at working-class Americans — allowing individuals to deduct tips, overtime pay and car loan interest from their tax bills. </p> <p>Paxton’s plan would create new tax deductions for healthcare, housing and family-related expenses. The tax benefits could be claimed on top of existing deductions, including the standard deduction, and would fall into four pillars.</p> <p>The first would be a $25,000 deduction for any out-of-pocket medical expense, including premiums, for individuals, with an additional $25,000 per dependent.</p> <p>Additionally, Paxton wants to create a $5,000 tax deduction to stimulate healthy lifestyle choices. Taxpayers could deduct workout and gym expenses, spending related to nutrition plans, payments for sports activities for dependents, and the cost of GLP-1 weight-loss medications. </p> <p>On housing, the attorney general is proposing a $50,000 deduction for first-time homebuyers and a $50,000 deduction on down payments for people moving to a new primary residence.</p> …