"With the great big beautiful bill, we gave you no tax on tips. Megan is here this evening, and she's happy to tell you that she is so, so much richer because with no tax on tips, no tax on overtime, and our expanded child tax credit, Megan and her husband will take home more than $5,000 extra."
"Often we see federal taxes, it's more slow going. That contrasts with a lot of these new ideas, which very much were brand new, in their infancy, and were created in the context of the 2024 campaign."
"This new tax deduction leaves tipped workers who make up 12% of the U.S. workforce according to a TurboTax survey wondering how to get this new deduction, whether they qualify, and if it will make a financial difference."
President Trump announced during the State of the Union that Congress passed significant tax cuts expected to deliver the largest tax refunds in American history. The legislation includes tax breaks on tipped income, overtime pay, and expanded child tax credits. A specific example highlighted a Pennsylvania waitress who will receive over $5,000 extra annually through these provisions. Tax Foundation analysts confirm middle-class refunds will increase on average. However, surveys show Americans increasingly disapprove of Trump's economic handling. The new tax policies, created during the 2024 campaign, represent rapid implementation of campaign promises. Tipped workers, comprising 12% of the workforce, express confusion about eligibility and financial impact of the new deductions.
Read at www.npr.org
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