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President Donald Trump’s “big, beautiful bill,” which he signed into law earlier this month, includes major wins for business interests that carried out aggressive lobbying campaigns on Capitol Hill to secure favorable treatment for their industries.
President Trump vowed to end taxes on Social Security, but the One Big Beautiful Bill stops short of fulfilling that promise.
The “big beautiful bill” that Donald Trump signed into law rolls back tax credits for things like electric cars and home EV chargers, rooftop solar panels, heat pumps and more.
The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.
For some strange reason, Trump's "won't somebody think of the unattractive billionaires" claim wasn't exactly the rallying cry he might have expected.
President Trump's One Big Beautiful Bill includes several provisions expanding federal subsidies and tax benefits for the oil and gas industry. Among its most significant energy-related provisions, the legislation mandates the resumption of quarterly onshore oil and gas lease sales under the Mineral Leasing Act,
An above-the-line deduction for charitable giving is expected to generate an estimated $74 billion for nonprofits over a decade.
Trump's tax and spending law will impact education savings, gambling losses and tips. Here's a breakdown of the highlights.