US EditionTrump’s Big Beautiful Bill Has A Nasty Surprise For World Cup Tourists
UNITED STATES, JUL 10 – The bill permanently sets the mortgage interest deduction cap at $750,000 and temporarily raises the state and local tax deduction cap to $40,000 through 2029, benefiting millions of homeowners.
- President Donald Trump signed the One Big Beautiful Bill Act, making the $750,000 mortgage interest deduction cap permanent and expanding homeowner tax breaks, according to statements.
- The expiration of the mortgage interest deduction cap after 2025, mortgage insurance deduction lapse post-2021, and the SALT cap at $10,000 prompted lawmakers to include these measures in the bill to preserve key homeowner tax benefits.
- Data shows about 4 million taxpayers claimed the mortgage insurance deduction averaging $1,454, with the SALT cap temporarily raised to $40,000 for 2025–2029 and a $750,000 limit on acquisition debt.
- A Californian earning $330,000 could save nearly $5,000, benefiting high-income homeowners in high-tax states; relief is significant but temporary and erosion risk remains.
- When the temporary SALT deduction cap boost ends in 2029, it reverts to $10,000 in 2030, with no inflation indexing, risking erosion over time.
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Tribune editorial: Trump’s ‘Big Beautiful Bill’ doesn’t help Utah take care of its own
“What needs to happen now is for all of us to watch and see just how much human suffering is caused by the BBB,” writes The Salt Lake Tribune editorial board. “There might be some hope that, once we see the damage done, Congress will reconsider.”
·Salt Lake City, United States
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Trump's Big Beautiful Bill is quietly handing startups a shot at a faster payday
President Donald Trump's "One Big Beautiful Bill" Act contains tax changes that could mean big gains for startups and their investors.Eric Lee/Getty ImagesThe "One Big Beautiful Bill" Act includes changes that could mean big gains for startup investors.The new provisions cut capital gains taxes for more startup share sales and allow larger tax-free payouts.Experts say the changes could help founders take M&A and secondary deals earlier.Under Pre…
·United States
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Total News Sources24
Leaning Left9Leaning Right2Center4Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 27%
13%
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