US EditionTrump’s ‘One Big Beautiful Bill’ Is Quietly Eliminating These 8 Tax Breaks
The act includes permanent tax cuts, expanded business deductions, and new child savings accounts, reducing estate tax beneficiaries from 36% to 12%, according to the White House Council of Economic Advisers.
- The One Big Beautiful Bill Act, signed July 4, offers small business owners immediate cash relief and permanent tax provisions to boost growth and investment.
- OBBBA secures as permanent the 2017 tax cuts by making the 2017 Tax Cuts and Jobs Act changes permanent and strengthening R&D and domestic manufacturing incentives.
- The law includes a permanent 20% qualified business income deduction, increases the 179 expensing cap to $2.5 million with 100% bonus depreciation, and exempts tips and overtime pay from taxes through 2028.
- In Idaho, a new budget report shows a projected $80 million deficit excluding potential $167 million conformity costs estimated by the Tax Foundation, with officials awaiting the 2026 legislative session to assess full impact.
- The act accelerates phaseouts of eight energy and clean‑energy tax credits, including Credit for Electric Vehicles ending September 30, 2025, while President Donald Trump seeks to rebrand it amid low poll ratings.
12 Articles
12 Articles
Trump admits name of unpopular tax law is 'not good' — and is scrambling to rebrand it
President Donald Trump's massive tax and spending law — whose official name is the "One Big Beautiful Bill Act (OBBBA)" — continues to remain deeply unpopular among a majority of Americans. Now, Trump is aiming to rechristen it ahead of next year's midterm elections.NBC News reported Tuesday that the president acknowledged during a recent Cabinet meeting that the law was in need of a rebrand as Republicans struggle to sell it back in their home …
Trump scrambles to rebrand ‘Big, Beautiful Bill’ amid 'alarm bells' over popularity
President Donald Trump is at work trying to rebrand his 2026 budget legislation, known as the "Big, Beautiful Bill," as a kind of tax cut not for billionaires but for the middle class. Trump announced at his Cabinet meeting that he was changing the name because it's "not good for explaining to people what it's all about." He went on to claim it was about creating jobs. Some of his own supporters have criticized Trump for a bill that added consid…
The Big Beautiful Bill Brings Big Changes For Taxpayers
The Big Beautiful Bill Brings Big Changes For Taxpayers Authored by Sandra Block via Kiplinger's Perosnal Finance, The One Big Beautiful Bill Act, signed by President Trump on July 4, includes tax breaks for an expansive range of taxpayers, while scrapping credits for energy-saving vehicles and home improvements. More broadly, the legislation makes the tax cuts in the 2017 Tax Cuts and Jobs Act permanent, which means tax rates won’t increase aft…
Idaho’s Projected Budget Deficit Does not Include Impact of ‘One Big Beautiful Bill Act’
BOISE, ID – A new budget report that shows Idaho is projecting an $80 million budget deficit does not factor in the costs of conforming to federal tax changes in Congress’ One Big Beautiful Bill Act, state budget officials said Monday. One outside estimate indicates federal tax conformity could cost the state of Idaho another $167 million that is not calculated into the projected $80 million budget deficit. As a result, some state legislators wo…
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