US EditionTrump's Tax Cuts: Who Will It Benefit?
- Following Senate passage on Tuesday, Republicans approved the 'One Big Beautiful Bill' on Thursday, sending it to President Trump for signature.
- The bill, prompted by the 2017 tax cuts, extends rates, caps SALT deductions at $40,000, and favors the wealthy with estate and business tax breaks.
- Analysis reveals the bill provides the top 1% with an average $66,000 tax cut in 2026, with Wyoming's top 1% saving about $133,000, totaling over $4 trillion in long-term cuts.
- Lower-Income Americans face losses due to cuts to Medicaid and SNAP, with analysis showing the lowest earners end up worse off overall.
- Looking beyond immediate effects, the Big Beautiful Bill's permanent extension of the 2017 tax cuts secures over $600 billion in long-term savings for middle-class households, ensuring stability and predictability.
17 Articles
17 Articles
Donald Trump's controversial tax law: tax relief for the rich, cuts in social benefits – and tangible consequences for Europe?
In the US, one of the biggest tax reforms in recent history is about to come into force. In Germany, US President Donald Trump's tax law is torn apart, but it is much more likely that the law will be a success for the American economy.
Trump's tax cuts: Who will it benefit?
(NewsNation) — President Donald Trump's "big beautiful bill" emerged victorious with its final passage clearing the House of Representatives Thursday, permanently extending 2017 tax provisions. Current federal income tax rates were set under the 2017 Tax Cuts and Job Act (TCJA) during Trump's first administration. With Trump's 2025 "One Big Beautiful Bill Act," the legislation extends those tax cuts, which were set to expire later this year. It …
NBC Chicago
Trump ‘big beautiful' bill gives top 1% biggest tax cuts in these states
The highest earners in Wyoming, South Dakota and Texas stand to get a tax cut of more than $100,000, according to the Institute on Taxation and Economic Policy.
Washington – US President Donald Trump intends to underline his domestic political victory by signing the major tax and spending bill on Independence Day today. Yesterday, the nearly 900-page bill, controversial due to cuts in health and social services, passed the House of Representatives. Trump had...
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