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Discretionary income is disposable income (after-tax income), minus all payments that are necessary to meet current bills. It is total personal income after subtracting taxes and minimal survival expenses (such as food, medicine, rent or mortgage, utilities, insurance, transportation, property maintenance, child support, etc.) to maintain a certain standard of living. [8]
In September 2017, Trump proposed the most sweeping federal tax overhaul in many years. [233] Trump signed the tax legislation on December 22, 2017, after it passed Congress on party-line votes. [234] [235] [236] The tax bill was the first major legislation signed by Trump. [237]
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