US EditionThe GOP Megabill: What Taxpayers Should Know
UNITED STATES, JUL 10 – The GOP bill makes key 2017 tax cuts permanent, mainly benefiting the wealthiest 0.1% and seniors, while IRS staffing has dropped over 25%, complicating enforcement.
- President Donald Trump signed the major tax and spending 'big, beautiful bill' into law on July 4, 2025, affecting federal taxes and welfare programs nationwide.
- The bill extends many 2017 tax cuts set to expire in 2025, enacts work requirements for food benefits for those up to 64, and strips certain Medicaid provisions from the legislation.
- Indiana has 588,184 Supplemental Nutrition Assistance Program beneficiaries, faces $97 million in SNAP administrative costs, and expects $196 million more in expenses due to the new law's impact.
- The legislation raises the standard deduction for 2025, allows up to $25,000 federal deduction on tips, ends $7,500 and $4,000 EV tax credits by September 30, 2025, and the top 1 percent receives $117 billion in tax cuts in 2026.
- Future reconciliation bills are planned to seek further spending cuts, but fiscal hawks doubt steep reductions will happen, while advocates warn that the megabill may increase food insecurity and strain state budgets.
41 Articles
41 Articles
Trey Kay: Looking at the metrics of the BBB beyond fanfare (Opinion)
This past July 4, while I grilled with friends and watched fireworks, President Donald Trump staged his own celebration on the White House lawn. With patriotic fanfare and a B-2 bomber flyover, he signed into law what he proudly called…
Trump's GOP Megabill Slams Door on Progress of the 20th Century
It’s not enough that Trump slashes taxes on the rich. He partially pays for those cuts in ways that punish poor and working-class people. Now we must fight like hell to regain what we've lost—and go further.
'Big, beautiful bill' 2.0 could set up fiscal hawks for disappointment
Congressional Republicans are looking to take a second bite of the apple with a ‘big, beautiful bill’ 2.0 in the fall, but fiscal hawks are skeptical that a second bill would provide the steep cuts they are looking for. President Donald Trump’s major tax and spending bill was signed into law on July 4, and members in both the House and the Senate are already discussing what they could put into a second or even third reconciliation bill. However,…
The Great American Heist You’re Paying For
On the Fourth of July, President Donald Trump signed into law a bill that constitutes one of the largest transfers of wealth in history — taking money away from working people and giving it to the nation’s elite. The bill is the culmination of years of giveaways that have allowed corporations and billionaires to tighten their grip on the government. The law triples the budget for Immigration and Customs Enforcement, slashes taxes for the most w…
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