Trump’s “Big, Beautiful Bill” isn’t just a tax cut extension—it’s a possible fiscal bomb. Here's what's in it:

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• Permanently extends 2017 Tax Cuts and Jobs Act’s lower income tax rates, increasing take-home pay for families.
• Eliminates taxes on tips, overtime pay, and Social Security benefits, boosting worker income.
• Raises standard deduction by $1,000 (to $16,000 for individuals), providing modest relief.
• Increases State and Local Tax (SALT) cap to $40,000 in 2025, phasing out for incomes over $500,000, benefiting wealthier households.
• Expands Child Tax Credit and introduces a $1,000 one-time credit for children born 2025–2028, costing $17 billion through 2034.
• Reintroduces 100% expensing for equipment and R&D investments, encouraging business growth
• Allows interest deductions for American-made car purchases, supporting auto industry.
• Limits food stamps to children under 7 and defunds Meals on Wheels and food banks, reducing social safety nets.
• Phases out Inflation Reduction Act subsidies, with delayed Medicaid work requirements starting in 2029
• Expands logging in national forests by 25%, bypassing environmental reviews.

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Critics of the bill argue it adds over $3 Trillion over 10 years to the U.S. debt, without accounting for any additional government savings from DOGE or additional revenues from the sale of government assets.

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