tax cut, One Big Beautiful Bill
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The Congressional Budget Office said that the final version of the One Big Beautiful Bill Act will add just under $3.4 trillion to deficits over the next decade. The new numbers, which came after a marathon reconciliation process in which many provisions of the megabill were changed at the last minute,
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President Donald Trump’s "big beautiful bill" will add $3.4 trillion to the U.S. national debt over the next decade, according to the nonpartisan Congressional Budget Office.
Millions of American babies are eligible for "Trump Accounts" under the One Big Beautiful Bill Act that was signed into law by President Trump on July 4.
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Soy Aire on MSNHow the 'One Big Beautiful Bill Act' Transforms Financial Stability for American FamiliesThe 'One Big Beautiful Bill Act' signed by President Trump introduces significant financial benefits for American families, including a permanent increase in the child tax credit. This legislation aims to provide long-term stability and support,
As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).
Republicans, including Senate Minority Leader John Braun, have cheered on the bill for offering tax breaks to middle-class residents.
The Democratic National Committee is showing where President Trump's bill could hurt people in the state, but the White House points to savings.
An analysis by a think tank found that annual household energy costs in the state will increase $110 by 2030 and $410 by 2035.