Tax Bills, Travel Bans and Job Corps: Federal Impacts to Southwest Ohio This Week

Tax bills, travel bans and Job Corps: Federal impacts to southwest Ohio this week

President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be signed into law by the Fourth of July. After

Breaking down Trump's 'Big Beautiful Bill' and its impact on the deficit and national debt

The Republican tax cut and spending bill could add trillions to the already massive deficit. Lisa Desjardins breaks down what President Trump’s “Big Beautiful Bill” means for the national debt.

How Would the Proposed $4,000 Senior Deduction Compare to No Tax on Social Security?

The House's “Big Beautiful Bill” increased senior deduction would deliver a larger tax cut to lower-middle- and middle-income households compared to exempting all Social Security benefits from taxation, and would not weaken the trust funds. But given the temporary nature of the policy, it would increase the deficit-impact of the reconciliation bill without boosting long-run economic growth.

Big Beautiful Bill Expands Child Tax Credit to $2,500

The Big Beautiful Bill passed by House Republicans expands the Child Tax Credit to $2,500 per child, effective immediately for tax year 2025. This $500 increase from the current $2,000 child tax credit delivers meaningful relief to working and middle-class families. The credit phases out at $200,000 for single filers and $400,000 for married couples filing jointly, keeping the benefit focused on middle-income households. The expanded child tax c…