Effects of Trump's 'big, beautiful bill' will be seen soon
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Texas avoided some steeper Medicaid cuts, but hundreds of thousands of Texans are still projected to lose health coverage due to the new law.
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).
Lawmakers, trade professionals and professional bettors worry about a new Republican provision that will reduce the deduction for gambling losses.
Trump's One Big Beautiful Bill cuts taxes, boosts border security, and reforms Medicaid—now the GOP must win the messaging battle.
Student loan restrictions in the new Republican tax and spending law could exacerbate the student loan crisis, and deepen racial and gender wealth gaps.
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New York Gov. Kathy Hochul and other NY officials spoke in Kingston July 18 to condemn the impacts of the "big beautiful bill" on local residents.
An analysis by the Maryland Department of Health projects an annual loss of $2.7 billion because of changes to Medicaid.