Republicans’ “big, beautiful” law will add $3.394 trillion to deficits during the next decade and lead 10 million people to lose access to health insurance, according to an analysis released Monday by the nonpartisan Congressional Budget Office.

President Donald Trump and the Republican Party’s top priority heading into next year’s midterm congressional elections will be selling the tax cuts in the One Big Beautiful Bill Act, a pitch that met a stiff headwind from the media and the Democratic Party.

WASHINGTON — President Trump’s major domestic policy law will result in nearly 10 million more people going without health insurance by 2034, according to the Congressional Budget Office’s estimate on the final law.

Because the deduction starts to phase out for single filers earning over $75,000 and married couples making over $150,000 — with full disqualification at incomes above $175,000 for individuals and $250,000 for couples — the Urban-Brookings Tax Policy Center projects that middle- and upper-middle-income households stand to gain the most.

The recent tax measures introduced by President Donald Trump have sparked debate over their impact on American finances, particularly for seniors, and the sustainability of vital federal programs like Social Security and Medicare.

President Donald Trump’s promise to eliminate the tax on Social Security benefits was a key talking point in his 2024 campaign. The recent tax reform bill, signed into law on July 4, 2025, takes a significant step towards this goal,

The White House touts President Trump's six-month achievements in tax cuts, job growth, and regulatory reforms.

President Donald Trump rolled out the idea for a new tax break on car loans during a 2024 campaign stop in Detroit. Here's how the new law works.

The implementation of the “One Big Beautiful Bill Act”, a large-scale tax cut package in the United States that took effect on July 4, could reduce the U.S. sales of Korean-made electric vehicles by up to $1.

She said she was constantly cobbling together child care plans when her nanny fell through, to "not be the person who kept calling out" at work. Foster's husband is a physician and she describes her family as middle to upper class.